DUBLIN (Reuters) – Irish services sector activity expanded slightly more slowly in December but new business growth was at its fastest pace since March and optimism about the next 12 months improved, a survey showed on Monday.
The AIB Global S&P PMI fell to 57.1 in December from 58.3 in November, but remained well above the 50 level indicating growth and above the long-term trend level of 55.1.
“The expansion in December was driven by a rapid increase in new business and strong gains in premium businesses and hiring,” David McNamara, chief economist at AIB, said in a statement.
The growth rate in the Irish services sector has been faster than the Eurozone and the United States Kingdom (Trade:) PMI, both at 51.4, but slower than the preliminary US PMI of 58.5.
All four sub-sectors saw strong growth in Ireland, with Transport, Tourism and Leisure the best performers.
Confidence in future business activity rose to its highest level in ten months, with nearly half of businesses expecting growth in the next year.
