Boost In Irelands Services Sector

06 Aug 2013

According to a Survey conducted by Markit Economics and Investec Ireland, July saw a boost in Business Activity especially in travel and tourism in Ireland’s Services Sector at a very fast pace. It also says that the country is still relying on services to drive a weak modest economic recovery, and orders for export services are also expanding at an appreciable rate in the month. Philip O'Sullivan, chief economist at Investec Ireland said that the purchasing managers services index has now expanded for 12 successive months and they further encouraging Services PMI readings all through the remaining year and beyond. Though the weakness of the U.K. economy and the debt crisis in the euro zone were crimping demand for its merchandise exports, Ireland is still relying on exports to drive its economic recovery. Citing weakening merchandise export demand, the Irish central bank has lowered its economic outlook last month. It said Irish gross domestic product has been downsized from 1.2% projected in April to 0.7% this year. However, according to the Survey by Markit Economics and Investec, the Irish manufacturing grew in July, slowly but steadily, for the second successive month with signs of a strengthening demand. The survey covered about 30% of those with jobs and 25% of the available Irish Labor Force.

Seeing Ireland’s growth in Services Sector, this can be a good time for applying for a Work Visa. Contact us for fastest processing of Ireland Work Visas.