Ireland's service economy remained buoyant in June according to the latest survey which shows new business and employment expanded at rapid rates.
The NCB purchasing managers index for services slipped slightly to 65.3 from 66.2, a reading above 50 indicates expansion. Around 37 per cent of firms indicated that activity had increased since the previous month, compared to less than 10 per cent that noted a decline.
Eunan King, senior economist at NCB stockbrokers said the June survey showed business activity remained "remarkably high" though the levels of expectations eased a bit.
"New business was strong and outstanding business continued to grow. There was a further rise in output prices indicating some success in passing on still rising input costs," he said.
The survey results are derived from questionnaires sent to around 600 private sector services companies that have agreed to supply regular information on trends in their activity levels. Monthly data have been collected since May 2000.