Business activity in the services sector expanded strongly in October, the latest NCB Purchasing Managers' Index reveals.
The index, which is compiled from data derived from questionnaires sent to 600 Irish private-sector service companies, shows the headline activity index rose to 56.5 last month from 54.8 in September.
"Following a two-year low in September, the rate of growth of new export work improved in October and was robust," the report said.
There was also a "solid rise" in staffing levels at Irish service firms, it added. Despite improving since September, the rate of new work growth was well below the average for the current fifty-three month expansionary period.
Input price inflation remained sharp in October, amid reports of upward pressure on wages and higher fuel and oil costs, the report said.
NCB chief economist Dermot O'Brien said: "Growth in activity in the private services sector rebounded sharply in October after hitting a four-year low in September.
"This suggests that the September survey may have been influenced, partly at least, by worries about the ramifications of the turbulence in credit markets."