The AIB Ireland Services PMI rose to 48.3 in October 2020 from 45.8 a month earlier, indicating a second successive monthly decline in the sector. New work declined at a softer rate, while outstanding business and employment both fell at the slowest pace in their respective eight-month sequences of fall. Meantime, cost pressures remained strong, linked to expenditure on PPE equipment, higher freight charges due to COVID-19 restrictions, costs related to remote working adjustments, and compliance. Companies continued to pass higher input prices on to customers, with average charges rising for the second month running and at a faster rate than in September. Lastly, sentiment weakened to the weakest in five months, reflecting rising uncertainty over a second wave of virus cases and a potential no-deal Brexit. source: Markit Economics
Services PMI in Ireland averaged 56.21 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 November of 2020.
Services PMI in Ireland is expected to be 50.00 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 52.80 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.