The AIB Ireland Services PMI declined to 55.4 in December 2021 from 59.3 in November. This was the lowest reading since March, but the rate of expansion was slightly above the long-run survey average. The index has now shed over 11 points since hitting a near-21 year high in July, amid weaker consumer demand as the country grappled with a new wave of COVID-19 infections, with new orders and outstanding business rising at softer paces. Also, foreign demand increased the least in seven months; and employment growth eased to an 8-month low, but remained much stronger than the long-run average. On prices, input price inflation eased slightly, but remained among the steepest record, due to increases in prices of energy, labor, insurance, and purchased goods. Meanwhile, output cost inflation slowed to a three-month low, but nevertheless one of the strongest since the series began in 2000. Finally, business sentiment picked up slightly. source: Markit Economics

Services PMI in Ireland averaged 56.17 points from 2011 until 2021, 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 January of 2022.

Services PMI in Ireland is expected to be 56.50 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 55.40 59.30 points Dec/21
Manufacturing PMI 58.30 59.90 points Dec/21

News Stream
Ireland Services PMI Drops to 9-Month Low
The AIB Ireland Services PMI declined to 55.4 in December 2021 from 59.3 in November. This was the lowest reading since March, but the rate of expansion was slightly above the long-run survey average. The index has now shed over 11 points since hitting a near-21 year high in July, amid weaker consumer demand as the country grappled with a new wave of COVID-19 infections, with new orders and outstanding business rising at softer paces. Also, foreign demand increased the least in seven months; and employment growth eased to an 8-month low, but remained much stronger than the long-run average. On prices, input price inflation eased slightly, but remained among the steepest record, due to increases in prices of energy, labor, insurance, and purchased goods. Meanwhile, output cost inflation slowed to a three-month low, but nevertheless one of the strongest since the series began in 2000. Finally, business sentiment picked up slightly.
2022-01-05
Irish Services PMI Falls to 7-Month Low
The AIB Ireland Services PMI was down sharply to a 7-month low of 59.3 in November 2021 from 63.4 in October, signaling the slowest rise in Irish services output since April, amid rising COVID-19 case numbers. The 4.2-point drop in the index was among the largest registered over the survey history, outside the double-digit plunges registered in March-April 2020 and January 2021. Growth in new orders slowed for the third time in 4 months to the weakest since April, and new export orders rose the least since June. Also, job creation slowed to a six-month low, partly reflecting labor shortages as some firms reported difficulties filling vacancies. On prices, input price inflation eased for the first time in 7 months but remained among the fastest saw in the survey history. Subsequently, the rate of inflation in prices charged was the fourth-highest on record. Looking ahead, the sentiment was at its lowest since March.
2021-12-03
Irish Services Activity Stays Strong
The AIB Ireland Services PMI edged down to a four-month low of 63.4 in October 2021 from 63.7 in September. Still, the latest figure pointed to the eighth straight month of growth in services activity, as pandemic curbs were eased further. New orders expanded rapidly, with the rate of growth among the fastest registered over the past 6 years. Also, export sales rose sharply, linked to online activity and opportunities arising from Brexit; while employment grew for the eighth month running, and at one of the fastest rates in the past three years. At the same time, outstanding workloads rose the most in any month over the past 21 years, and for the eighth month running. On prices, input price inflation accelerated for the sixth straight month to the highest since November 2000, while output charges rose at the third-fastest rate on record, due to soaring costs. Finally, sentiment remained strongly optimistic despite the reading being the softest since July.
2021-11-03

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.