3rd June 2010: Services sector expanded last month

Ireland's services industry expanded last month as confidence among service providers reached its highest level in two years, NCB Stockbrokers said.

A monthly index rose to 52.4 in May from 51 in April, NCB said today in a research note. A reading above 50 indicates expansion.

Activity improved in all areas of the service sector except transport and leisure, the report shows.

The weaker euro "should be a boost for tourism and exports more generally in the coming months," NCB said in the report.

Source –irishindependent.ie