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.