DUBLIN (Reuters) – Irish services sector activity expanded slightly slower in December but growth in new business hit its fastest pace since March and optimism for the coming 12 months improved, a survey showed on Monday.
The AIB Global S&P Purchasing Managers’ Index (PMI) slipped to 57.1 in December from 58.3 in November, but remained well above the 50 level than signals growth and above the long-run trend level of 55.1.
“The expansion in December was driven by a rapid increase in new business, and solid gains in outstanding business and employment,” AIB Chief Economist David McNamara said in a statement.
The rate of growth in the Irish services sector was faster than the flash euro zone and United Kingdom (TADAWUL:4280) PMIs, both at 51.4, but slower than the U.S. flash PMI of 58.5.
All four sub-sectors saw strong growth in Ireland, with Transport, Tourism & Leisure the best performer.
Confidence in future business activity rose to its highest level in ten months, with nearly half of companies expecting growth in the coming year.
