The AIB Ireland Services PMI plummeted to 13.9 in April 2020 from 32.5 in March, falling to the lowest on record as the economy shut down to halt the spread of the coronavirus outbreak. All six sub-indices contracted sharply in April and booked the lowest levels in the series history. Among sectors, transport, tourism & leisure and business services record single-digit index readings of 5.2 and 7.4, respectively. On the price front, average input prices fell at the sharpest rate since March 2010, as firms reported lower wage and fuel costs. Looking ahead, sentiment for the next 12 months stabilized.
Services PMI in Ireland averaged 56.95 points from 2011 until 2020, reaching an all time high of 64 points in January of 2016 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 May of 2020. source: Markit Economics
Services PMI in Ireland is expected to be 42.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Ireland to stand at 51.00 in 12 months time. In the long-term, the Ireland Services PMI is projected to trend around 52.00 points in 2021 and 54.00 points in 2022, according to our econometric models.