A new survey today shows Ireland’s service sector grew at it fastest rate in nine years in the month of November, with employment, prices charged and new business all expanding strongly.
The Investec Purchasing Managers’ Index of activity in services, which covers businesses for banks to hotels, climbed to 63.6 from 60.1 in October.
It was the highest reading since June 2006. The index last fell below the 50 mark that separates growth from contraction in July 2012.
Today’s survey shows that the employment sub-index reached its highest level since the survey began in 2000.
The business expectations sub-index hit its highest level since January 2004, climbing to 80.3 from 76.7, with more than 20 times as many respondents anticipating an increase in activity over the coming year as expecting a contraction.
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