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Exports keep service sector strong

New figures show that the service sector of the economy continued to grow strongly in August, as growth in export orders hit a five-month high.

The NCB Purchasing Managers' Services Index recorded 57, up from 56.2 in July and well above the 50 mark which signals no change.

Jobs growth picked up, with the employment index rising from 54.2 to 55.9. But business expectations slipped to 66.7, the lowest since September.

NCB chief economist Dermot O'Brien blamed the easing in expectations on concerns about the construction sector.

Costs continued to rise sharply, with the index up marginally at 63.5, while the index for prices charged by firms dropped back to 52.1.