The AIB Ireland Services PMI increased to 52.7 in December 2022 from 50.8 in the previous month, signalling a slightly faster rate of expansion in the sector, with business activity index rising for the first time in five months. It was the 22nd month of successive expansion in the sector, but was still the second-weakest registered over the current 22-month period expansion. New business increased, though growth rates remained modest overall, with both technology, media & telecoms and business services posting expansion in new work. Meanwhile, outstanding business rose, with the rate of expansion was the weakest over this period. The rate of job creation was solid overall and above the long-run survey average, albeit the weakest in 2022, reflecting uncertainty moving into 2023. On the pricing front, input cost inflation eased to a 11-month low, while output cost inflation slowed to a four-month low. Finally, business sentiment remained subdued on recession and inflation concerns. source: Markit Economics

Services PMI in Ireland averaged 56.22 points from 2011 until 2022, reaching an all time high of 66.60 points in July of 2021 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 February of 2023.

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Ireland Services PMI



Related Last Previous Unit Reference
Manufacturing PMI 50.10 48.70 points Jan 2023
Services PMI 52.70 50.80 points Dec 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
52.70 50.80 66.60 13.90 2011 - 2022 points Monthly

News Stream
Irish Services Growth Accelerates in December
The AIB Ireland Services PMI increased to 52.7 in December 2022 from 50.8 in the previous month, signaling a slightly faster rate of expansion in the sector with business activity index rising for the first time in five months. It was also the 22nd month of increase in services activity but was still the second-weakest registered over the sequence. New business increased further, though growth rates remained modest overall, with both technology, media & telecoms, and business services posting an expansion in new work. Meanwhile, outstanding business rose, with the rate of expansion being the weakest in 22 months. The rate of job creation was solid overall and above the long-run survey average, albeit the weakest in 2022, reflecting uncertainty moving into 2023. On the pricing front, input cost inflation eased to an 11-month low, while output price inflation touched its lowest in four months. Finally, business sentiment remained subdued, on recession and inflation concerns.
2023-01-05
Irish Services Growth Slows in November
The AIB Ireland Services PMI dropped to 50.8 in November 2022 from 53.2 in the previous month. It was the 21st month of successive expansion in the sector, but the weakest growth in the current sequence and below the 22-year long-run trend level of 55.1 for the fourth straight month, due to economic uncertainty and high inflation. New business growth eased to a 21-month low, with both business services and transport, tourism, and leisure posting outright contractions in new work. The rate of growth in new export business also slowed sharply. This saw a marked easing of capacity pressures, with backlogs of outstanding business rising at the slowest pace in 21 months. Meanwhile, the rate of job creation eased to the weakest in 2022 so far. On the pricing front, input cost inflation accelerated slightly, while output cost inflation slowed to a three-month low. Finally, business sentiment weakened, amid recession fears, the energy crisis and rising living costs.
2022-12-05
Irish Services PMI Slips to 20-Month Low
The AIB Ireland Services PMI fell to 53.2 in October 2022, from a 54.1 reading in the previous month. It was the 20th month of successive expansion, yet the slowest rise in the sequence. Demand growth remained strong, shown by the increase in activity in three out of four sectors along with the rise in inflows of new business but is below the trend shown since the Q2 of 2021. Meanwhile, employment rose at a sharp pace that matched the trend since headcounts began increasing in March 2021. On prices, input price inflation eased to a nine-month low, albeit remained the highest on record pushed by strong upward pressure on labor and energy cost. Generally, the current reading marked further increases in output and new business but the growth remained weak, which signals further loss of momentum for the private sector.
2022-11-03