Ireland’s service sector expanded at a slower pace in December compared to previous month, survey results from Markit showed Wednesday. Nonetheless, the sector remained strong on improving client demand.
The seasonally adjusted Purchasing Managers’ Index fell to 61.8 in December from 63.6 in November. A reading above 50 indicates expansion in the sector.
Activity, new business and employment continued to expand in December. Meanwhile, business sentiment eased to the lowest in 16 months.
Rising staff costs was the main factor driving another strong increase in input prices. Better client demand helped service providers to improve their profit margins by raising charges.
The material has been provided by InstaForex Company – www.instaforex.com