New figures show that a fall in activity in the service sector of the economy accelerated in April.
The NCB Services Purchasing Managers' Index recorded 32.2, down from 35.7 in March and the second lowest on record. Any figure below 50 means activity declined.
New orders fell sharply again to 33.2, with new business from abroad also dropping substantially. Employment levels fell again.
But costs for services firm fell at the second-fastest rate on record, to 37.4, helped by increased competition among suppliers. This also affected prices charged by firms, which set a record low of 31.5, the fourth record fall in a row. Companies blamed increased competition and pressure from customers for the price falls.
NCB economist Brian Devine said the most disappointing aspect of the survey was the confidence measure, which turned negative at 46.8, following slight optimism in March.
