Ireland’s service sector activity expanded at the fastest pace in nearly twelve years in November, and employment increased at the sharpest rate in the survey history, figures from Markit Economics showed Thursday.
The seasonally adjusted Investec services purchasing managers’ index, or PMI, climbed to 63.6 in November from 60.1 in October. Any reading above 50 indicates expansion in the sector.
Panelists reported that improving economic conditions and an associated increase in client confidence had supported further growth of new business.
New order growth accelerated to a three-month high in November. New export orders expanded at the steepest rate since September 2014.
Employment level in the service sector grew at the fastest pace since the survey began in May 2000.
On the price front, input price inflation quickened to the sharpest since July 2009, led by higher staff costs and euro weakness. As a result, output prices rose at a faster pace during the month.
Confidence regarding future activity also improved in November, with sentiment the strongest since January 2004.
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