The AIB Ireland Services PMI declined to a six-month low of 55.6 in June 2022 from 60.2 in May, amid growing concerns over soaring inflation and geopolitical instability. Still, the latest figure remained above its long-run trend level since 2000 of 55.1, with new orders rising for 16th straight month despite the rate of growth being the weakest since January. Also, employment growth continued to expand strongly despite easing to a five-month low. Meantime, both input prices and charges rose at the fourth-fastest rates on record, which were little-changed from the all-time highs seen in March and April, respectively. Among sub-sector, there was a notable loss of momentum in transport/tourism/leisure while growth in the technology/media & telecoms sector eased to a three-month low. Finally, sentiment hit its lowest since October 2020, on worries over the impact of the Ukraine war and surging prices. source: Markit Economics

Services PMI in Ireland averaged 56.35 points from 2011 until 2022, reaching an all time high of 66.60 points in July of 2021 and a record low of 13.90 points in April of 2020. This page provides the latest reported value for - Ireland Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Ireland Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

Services PMI in Ireland is expected to be 54.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ireland Services PMI is projected to trend around 53.40 points in 2023, according to our econometric models.

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Ireland Services PMI



Related Last Previous Unit Reference
Services PMI 55.60 60.20 points Jun 2022
Manufacturing PMI 53.10 56.40 points Jun 2022

Ireland Services PMI
The Investec Services PMI Ireland is based on data compiled from monthly replies to questionnaires sent to around 450 private companies in the Irish private service sector. An index situated above 50.0 indicates activity expansion of the corresponding variable (i.e. new orders, price, employment, etc.); An Index situated below 50.0 indicates a contraction of the activity, whilst an index at the same level as 50.0 indicates that the situation is stable compared with the previous month.
Actual Previous Highest Lowest Dates Unit Frequency
55.60 60.20 66.60 13.90 2011 - 2022 points Monthly

News Stream
Irish Services PMI Falls to 6-Month Low
The AIB Ireland Services PMI declined to a six-month low of 55.6 in June 2022 from 60.2 in May, amid growing concerns over soaring inflation and geopolitical instability. Still, the latest figure remained above its long-run trend level since 2000 of 55.1, with new orders rising for 16th straight month despite the rate of growth being the weakest since January. Also, employment growth continued to expand strongly despite easing to a five-month low. Meantime, both input prices and charges rose at the fourth-fastest rates on record, which were little-changed from the all-time highs seen in March and April, respectively. Among sub-sector, there was a notable loss of momentum in transport/tourism/leisure while growth in the technology/media & telecoms sector eased to a three-month low. Finally, sentiment hit its lowest since October 2020, on worries over the impact of the Ukraine war and surging prices.
2022-07-05
Ireland Services Growth Eases to 3-Month Low
The AIB Ireland Services PMI declined to a three-month low of 61.7 in April of 2022 from March's five-month high of 63.4 a month earlier. The latest figure was the first easing in the pace of growth in 2022, but remained well above their long-run averages in each case. New business continued to increase, with the rate of growth decreasing slightly, but slightly well above the long-run survey average. Meanwhile, employment increased, linked to rising workloads and effort to replace previous leavers, with the rate of job creation easing for the first time in four months. On prices, input cost inflation eased from March's peak but the second highest on record. Meanwhile, output cost inflation accelerated to the highest on record. Finally, business sentiment weakened amid concerns on inflation and the ongoing the war in Ukraine.
2022-05-05
Ireland Services PMI Rises to 5-Month High
The AIB Ireland Services PMI increased to 63.4 in March of 2022 from 61.8 a month earlier, pointing to the highest reading since last October. The improvement marked a faster expansion than the trend over the current 13-month sequence of increases, supported by a further sharp expansion in new orders. In addition, employment expanded the most in seven months while outstanding business rose at the fastest rate since October 2000 amid pressure on operating capacity On prices, March data revealed record cost pressures, with input price inflation soaring to the highest level since the survey began in 2000, linked to higher labor, energy, fuel, insurance, and transport costs. That in turn led to a record pace of selling prices. Finally, business sentiment was at its weakest since the start of 2021 due to the war in Ukraine. March's drop in sentiment was exceeded only twice in the survey history, in March 2020 and September 2001.
2022-04-05