The Irish services sector continued to grow in December, but at a weaker rate than in the previous months, according to the latest NCB Purchasing Managers' Service Index.
The index, compiled from data supplied by 600 Irish companies, fell to 52.7 - its lowest level in four months. In November, the index had stood at 53.9. A reading above 50 signals growth while a figure below 50 signals contraction.
'While the Services PMI slipped in December, activity continues to expand and confidence remains at a relatively high level,' Dermot O'Brien, Chief Economist at NCB, said.
He said that respondents attributed the continued growth in current business and their optimism for the future to the resilience of the domestic economy.
'In the context of the recent breakdown in national pay talks, the adverse impact of rising wage costs on inflation and employment in the services sector revealed by the survey is worthy of particular note,' he added.
