In contrast to the country's manufacturing sector, the services sector here continues to expand.
The NCB Services Purchasing Managers' Index, which measures activity in the services sector, rose slightly to 51.4 from 51.1 in August, remaining above the 50 line that separates growth from contraction. This is the ninth month of growth in a row.
Breaking down the sectors, the index shows that technology is leading the way in terms of new exports and activity.
NCB's chief economist Brian Devine said that Ireland has invested heavily in attracting the best technology companies in the world to locate in Ireland. ''This is helping investment, employment and confidence in Ireland," he added.
Today's services PMI shows that the rate of expansion remained slight in the services sector and was broadly in line with rises seen in the previous two months. Respondents remain optimistic that activity will be higher in a year's time than current levels.
NCB said a rise in activity in service companies was recorded despite a drop in overall new business, with new orders falling at the fastest pace since last December. However, the stockbrokers noted that new business from abroad has now risen in eight of the past nine months.
Service companies said that resignations had contributed to the latest drop in employment, with leaving staff not being replaced in some cases. Staffing levels fell at the fastest pace since April 2010.
Companies reported another rise in input costs, due to higher energy and fuel costs. Input costs have now increased for the past 10 months in a row and the rate of inflation rose to the sharpest rate in four months in September.
But output costs saw another decline due to intense competition among companies as they try to attract business.
