The AIB Ireland Services PMI declined to a four-month low of 60.2 in May 2022 from 61.7 in April, but still pointing to a sharp monthly increase in output across the service sector as the recovery from the Covid pandemic continued. Activity has now risen in each of the past 15 months, but the latest expansion was the softest since January. There were further signs of growth rates softening amid steep rises in input costs and selling prices. The rate of job creation picked up to a ten-month high, but outstanding business increased at an accelerated pace nonetheless. The Transport, Tourism & Leisure sector led growth of activity, new business and employment. Meanwhile, rates of expansion slowed in the Business Services, Financial Services and Technology, Media & Telecoms categories, with the softest increase posted in the Business Services sector. 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 June of 2022.

Services PMI in Ireland is expected to be 54.00 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
Manufacturing PMI 56.40 59.10 points May 2022
Services PMI 60.20 61.70 points May 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
60.20 61.70 66.60 13.90 2011 - 2022 points Monthly

News Stream
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
Irish Services Growth Accelerates to 4-Month High
The AIB Ireland Services PMI surged to 61.8 in February from 56.2 a month earlier, pointing to the strongest growth in the sector since last October, and was well above its long-run average of 55.0, following the lifting of COVID restrictions the previous month and the Omicron variant retreated. New business expanded the most in over six years, while there was the biggest increase in outstanding work in over 21 years and jobs were added at to a greater extent, despite reports of labour shortages. On prices, input price inflation accelerated to the fastest in over 21 years, due to higher costs, as well as fuel, insurance, shipping and UK customs. Meanwhile, output cost inflation rose to the fastest since October 2020. Finally, business sentiment remained very optimistic, activity expected to g further momentum as the pandemic recedes, in particular tourism.
2022-03-03