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Services sector shrinks in January
03.02.2012
Categories:
Irish Economy
Services sector shrinks in January
Activity in the service sector of the economy shrank in January for the second month in a row, according to a new report.
The NCB Services Purchasing Managers' Index recorded 48.3. It was 48.4 in December and any figure under 50 means that activity fell.
The employment index in the report dropped from 47.3 to 44.5, which was the biggest fall since April 2010.
New orders contracted again, but just slightly, while new export orders rose, climbing to 52.8 from 52.1.
Meanwhile the rate of cost inflation accelerated in to 55, mostly due to higher fuel costs and a dip in the value of the euro.
Karina Corbett
Categories:
Irish Economy