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05/01/2006
Service sector employment accelerates
The latest figures from NCB for the Republic of Ireland's economy indicate that the services sector continued to expand in December and that confidence about future activity levels in the sector has risen.
At 61.1 in December The Business Activity Index was well above the no-change 50 marker level, which although down on the November level of 62.1 indicates continued expansion in the sector.
Firms in the service sector reported increased hiring to cater for demand which pushed the index for employment up slightly to reach 56.4.
While companies reported a rise in costs, which were attributed to increased salaries, the input price inflation had fallen for the third month in a row.
Commenting on the report NCB Economist Dermot O'Brien said: "The pace of expansion in the Irish private services sector remains very robust. New business is growing strongly, confidence is buoyant and employment growth continues to accelerate."
NCB figures for the manufacturing sector remained encouraging, although there was a slight fall in the pace of growth, employment levels increased marginally.
The manufacturing sector index was 53.4 a slight drop from 53.7, but still indicated positive growth in the sector, which has seen sharp rise in costs. December saw the highest cost rise in a year. This was attributed to increased fuel costs.
(SP)
At 61.1 in December The Business Activity Index was well above the no-change 50 marker level, which although down on the November level of 62.1 indicates continued expansion in the sector.
Firms in the service sector reported increased hiring to cater for demand which pushed the index for employment up slightly to reach 56.4.
While companies reported a rise in costs, which were attributed to increased salaries, the input price inflation had fallen for the third month in a row.
Commenting on the report NCB Economist Dermot O'Brien said: "The pace of expansion in the Irish private services sector remains very robust. New business is growing strongly, confidence is buoyant and employment growth continues to accelerate."
NCB figures for the manufacturing sector remained encouraging, although there was a slight fall in the pace of growth, employment levels increased marginally.
The manufacturing sector index was 53.4 a slight drop from 53.7, but still indicated positive growth in the sector, which has seen sharp rise in costs. December saw the highest cost rise in a year. This was attributed to increased fuel costs.
(SP)
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