Ireland Services Growth At 3-Month High

Ireland Services Growth At 3-Month High

Ireland's service sector activity expanded at the fastest pace in three months in September, driven by strong rise in new business, survey data from IHS Markit showed Wednesday.

The seasonally adjusted Investec services Purchasing Managers' Index rose to 58.7 in September from 58.0 in August. Any reading above 50 indicates expansion in the sector.

The survey revealed that higher new orders and increased staffing levels contributed to the latest rise in activity.

The rate of growth in new export orders quickened, with a number of respondents highlighting new business from UK customers.

The rate of job creation across the sector marked the quickest in this year so far.

Finally, confidence around future growth of activity also improved, boding well for a positive end to 2018.

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