Ireland’s service sector activity expanded for the thirty-third successive month in April, while the rate of output price inflation quickened to the sharpest since June 2002, data from Markit Economics showed Wednesday.
The Investec services purchasing managers’ index fell slightly to 60.6 in April from 60.9 in the prior month. But, any reading above 50 indicates expansion in the sector.
New orders increased for the thirty-third consecutive month in April and at a sharper pace. New export orders also climbed in April, thought at the slowest rate Since May 2013. Respondents indicated that the UK had been a key driver of growth in new export orders.
Higher new business forced companies to take extra staffs during April and the job creation was marked for the thirty-third successive month.
On the price front, input prices rose further in April, due to the increases in wages and salaries. Higher utility costs and the recent weakness of the euro were also the reason for the increase.
Selling prices rose sharply in April, in line with higher input costs and the impact of the weak euro. Moreover, the rate of inflation quickened to the sharpest since June 2002.
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