DUBLIN (Reuters) - Ireland's services sector expanded at the fastest pace in three months in May, a survey showed on Thursday, with new orders helped by a fall in the euro against the dollar and sterling.
The Investec Purchasing Managers' Index of activity in services, which covers businesses from banks to hotels, stood at 61.4 in May, up from 60.6 the previous month. It reached an eight-year high of 62.6 in December last year.
The index has stayed above 60 for 15 months and has not fallen below the 50-point line that separates growth from contraction since July 2012.
"We share the optimism of the respondents to today's report and expect to see further strong readings over the coming months at least," Investec Ireland chief economist Philip O'Sullivan said.
More than three times as many panellists reported growing business activity as experienced a slowdown, he said.