A new report shows that activity in the service sector of the economy grew at its slowest pace for more than four years in January.
The NCB Purchasing Managers' Services Index recorded 51.9, its lowest since July 2003, compared with 53.5 in December. Any figure above 50 means that activity expanded.
The volume of new business grew, but at its weakest pace in four and a half years. Some firms said turbulence in financial markets and building slowdown had contributed to this.
Employment growth was modest but steady, with this index up from 50.8 to 50.9. The costs index was 62.2, the lowest figure for a year but still a sharp increase. The prices charged index was 50.1, indicating little change.
The confidence index improved from December's six-year low but was still below the average for the past year. It picked up from 62.9 to 68.5.
