Services PMI in Ireland increased to 52.4 points in August from 51.9 points in July of 2020, as the recovery continued. Activity rose for a second month and gained steam, while new orders increased for the first time since February. Meanwhile, employment continued to fall. On the price front, selling prices dropped for the sixth month, and discounting was linked by firms to increasingly competitive markets, the negative impact of the COVID-19 crisis on client demand and reduced transport costs. Looking ahead, the 12-month outlook moderated slightly.
Services PMI in Ireland averaged 56.38 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 September of 2020. source: Markit Economics
Services PMI in Ireland is expected to be 49.00 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 53.60 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.