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.

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Ireland Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
55.90 53.70 64.00 48.30 2011 - 2019 points Monthly


News Stream
2019-12-04
Ireland Services PMI Climbs to 3-Month High
The AIB Ireland Services PMI climbed to a 3-month high of 53.7 in November 2019, rebounding sharply from an 87-month low of 50.6 in the previous month and ending five straight months of slowdown amid Brexit uncertainty. The expansion pace in new orders accelerated from October as a result of firmer demand conditions, while job creation was solid and the highest in five months. On the price front, both input costs and output prices increased at sharper clips compared to the previous month. Looking ahead, sentiment rose to its highest level since June.

2019-11-05
Irish Services PMI Falls to Over 7-Year Low
The AIB Ireland Services PMI dropped to 50.6 in October 2019, the lowest since July 2012, from 53.1 in the previous month. This marked the fifth straight month of slowdown in the sector, amid Brexit uncertainty, with new orders growing the least in 81 months. Meanwhile, overseas sales returned to growth driven by greater demand from customers based in Oceania and the Netherlands. Also, employment expanded the most in four months, amid efforts to bolster capacity and work through customer orders. On the price front, the rate of input cost inflation dipped slightly, and output charge inflation softened to a three-month low. Looking forward, confidence improved from September's almost eight year low but was nonetheless subdued.

2019-10-03
Ireland Services PMI Falls to Over 6-Year Low
The AIB Ireland Services PMI dropped to 53.1 in September 2019 from 54.6 in the previous month, the weakest since May of 2013. It was the fourth straight slowdown in the sector, as new orders increased at the weakest rate in 76 months, with export sales falling for the second time in the past three months amid reports from some firms of Brexit uncertainty negatively affecting orders from the UK. Meanwhile, job creation was little changed from August's 75-month low. On the price front, input cost inflation edged higher while output cost rose the most in four months. Looking ahead, business confidence was the lowest in almost eight years, as Brexit uncertainty weighed on sentiment.

2019-09-04
Ireland Services PMI Dips to 7-Month Low
The AIB Ireland Services PMI dropped to 54.6 in August 2019 from 55.0 in the previous month, the weakest since January. New orders grew at the softest pace in four months, amid reports from some firms of Brexit uncertainty negatively affecting orders from the UK, with the financial services and transport & leisure sectors recording a drop in new business from abroad. On the price front, output charges increased at a faster pace in August, with the rate of selling price inflation the quickest since May. Looking ahead, sentiment towards activity over the coming year dropped to the lowest since December 2011 as Brexit weighed on optimism.

2019-08-06
Ireland Services PMI Dips to 3-Month Low
The AIB Ireland Services PMI dropped to 55.0 in July 2019 from 56.9 for the previous month, pointing to the weakest expansion in three months. New orders grew at the softest pace in three months, as firms commented that Brexit uncertainty weighed on customer demand, with export sales falling for the first time since November 2016 and employment growing at an over 6-year low. On the price front, input cost inflation slowed to a 16-month low. Looking ahead, Brexit uncertainty dragged sentiment to a 3-month low, with just 43% of panellists confident of a rise in business activity from present levels in 12 months' time.

2019-07-03
Ireland Services Sector Growth Remains Strong in June
The AIB Ireland Services PMI edged down to 56.9 in June 2019 from 57.0 in the previous month, pointing to the second-strongest pace of expansion in the service sector since November 2018. New orders expanded markedly and export sales rose solidly and at the fastest pace since the start of 2019. Meantime, employment expanded sharply and at the strongest pace in three months. On the price front, the rate of input cost inflation dipped slightly from May, but nonetheless was steep, nudged by fuel, staffing and utility costs. Looking forward, business confidence continued to be highly optimistic, amid predictions of greater sales activity and stronger economic conditions.


Ireland Services PMI
The Investec Services PMI Ireland is based on data compiled from monthly replies to questionnaires sent to around 450 private companies in the Irish private service sector. An index situated above 50.0 indicates activity expansion of the corresponding variable (i.e. new orders, price, employment, etc.); An Index situated below 50.0 indicates a contraction of the activity, whilst an index at the same level as 50.0 indicates that the situation is stable compared with the previous month.

Ireland Business Last Previous Highest Lowest Unit
Business Confidence -26.00 1.00 50.00 -26.00 percent [+]
Manufacturing PMI 49.50 49.70 59.10 48.20 points [+]
Services PMI 55.90 53.70 64.00 48.30 points [+]
Industrial Production -2.60 -3.30 60.00 -19.20 percent [+]
Industrial Production Mom -4.00 -5.20 32.90 -24.00 percent [+]
Manufacturing Production -2.90 -3.80 85.90 -20.10 percent [+]
Changes in Inventories 260.00 -1244.00 3584.00 -1244.00 EUR Million [+]
Car Registrations 729.00 1676.00 32961.00 474.00 [+]
Internet Speed 15614.31 15285.23 16960.56 2269.39 KBps [+]
IP Addresses 1663376.00 1600356.00 1719799.00 775588.00 IP [+]
Competitiveness Index 75.12 75.68 75.96 4.74 Points [+]
Competitiveness Rank 24.00 23.00 29.00 22.00 [+]
Ease of Doing Business 24.00 23.00 24.00 7.00 [+]
Electricity Production 2458.00 2194.00 2820.00 1747.00 Gigawatt-hour [+]
Corruption Index 73.00 74.00 85.70 69.00 Points [+]
Corruption Rank 18.00 19.00 25.00 11.00 [+]