Service sector activity up in January
There was a further increase last month in service sector activity, after 31consecutive monthly rises.
The seasonally-adjusted Business Activity Index from NCB Stockbrokers showed little change since the previous month, remaining indicative of strong growth (posting 61.0, from December’s 61.2). The rate of activity expansion was also above the 2005 average.
Volumes of incoming new business to the service sector rose sharply in January, though at a slightly reduced pace compared to December.
Anecdotal evidence suggested improved economic conditions and recent sales drives had influenced the latest upturn in new work.
Prices charged for services also rose for the seventh successive month in January. "However, despite strong input cost pressures, the rate of inflation was moderate as firms sought to keep their
charges," according to the report, which was released today.
