The Irish services sector has reported yet another month of growth in December, in terms of both economic activity and numbers employed.
NCB Stockbrokers' latest service sector Business Activity Index indicates that economic activity in the Irish service sector grew for the seventh consecutive month in December. Although the index fell slightly from November's high, at 58.8 it was still the second strongest month since April 2002.
The survey covers all private sector services in Ireland, excluding retail and wholesale, and is compiled from 600 Irish companies operating in the service sector.
The index also indicated that employment in the sector rose for the fourth consecutive month, and at the fastest pace since April 2001. The rise in employment was reported to be as a result of efforts to raise capacity to cope with significant growth in new business.
'The services sector ended 2003 on a high note,' said Dermot O'Brien, NCB's chief economist, adding that business confidence is at its highest level in 20 months.
Inflationary pressure continued to rise, with high oil prices putting pressure on fuel bills, while prices charged by firms fell for the ninth successive month.
