Activity in the services sector expanded for the tenth month in a row in March, although the rate of growth eased for the fourth consecutive month.
The latest NCB Purchasing Managers' Service Index stood at 55.8 in March, down from February's level of 57 but still well above the critical no-change mark of 50.
'While growth continued in clearly positive territory, the pace slowed for business activity and new business,' commented Dermot O'Brien, Chief Economist at NCB Stockbrokers.
'It is nonetheless encouraging to see employment accelerate to its best level since December. Input costs continued to rise while keen competition has kept charges falling,' he added.
The NCB survey showed the seventh successive gain in net staffing levels, with average charges falling for the 12th month in a row.
While easing slightly on the previous month, business confidence remained strong with more than three fifths of businesses surveyed saying they expected conditions to improve over the coming year.
The survey covers all private sector services in Ireland, excluding retail and wholesale. The data are derived from questionnaires sent to a panel of about 600 companies that have agreed to supply regular information on trends in their activity levels.
