The AIB Ireland Services PMI rose to a six-month high of 55.9 in December 2019 from 53.7 a month earlier, amid reduced Brexit uncertainty. New business grew the most since June, boosted by a faster increase in new export orders. Meanwhile, employment growth eased to a three-month low, but remained solid. On the price front, input prices continued to rise at a strong rate, while output price inflation was little-changed since November, remaining well above the long-run survey average. Lastly, business sentiment strengthened to a 17-month high. Services PMI in Ireland averaged 57.63 Index Points from 2011 until 2019, reaching an all time high of 64 Index Points in January of 2016 and a record low of 48.30 Index Points in January of 2012. source: Markit Economics
Services PMI in Ireland is expected to be 55.80 Index 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 55.20 in 12 months time. In the long-term, the Ireland Services PMI is projected to trend around 56.50 Index Points in 2020, according to our econometric models.