Ireland Services PMI2011-2021 Data | 2022-2023 Forecast | Calendar | Historical

The AIB Ireland Services PMI fell to 63.7 in August from 66.6 a month earlier. The latest expansion slowed for the first time in the current six-month growth sequence but was still the 2nd-strongest since January 2016. New business rose for the sixth month running, with the rate of growth slowing to a 3-month low w but was still the third-fastest in the past 4-1/2 years. Employment also grew for the sixth straight month despite the figure easing, in line with moderating demand. Incomplete workloads increased for the sixth consecutive month, and at a rate unchanged from July's 249-month record. Meantime, cost pressures continued to build, with input price inflation the highest since December 2000, leading to the sharpest rise in charges levied for services since October 2000. Finally, sentiment improved due to returning confidence and more 'normal' trading conditions.

The AIB Ireland Services PMI jumped to 66.6 in July 2021 from 63.1 in June. This was the fifth straight month of growth in the service sector, the third month in a row that the index has been above 60 and the third-highest reading since the survey began in May 2000. New business grew the most since January 2016 and new export orders saw one of the fastest increases in the past three years. Meanwhile, incomplete workloads rose the most in over two decades despite reports that employment rose for the fifth month running, and at the fastest pace since February 2017. The latest survey data also signaled rising inflationary pressures, with input cost inflation the highest in 13 years. As a result, charges by service providers rose the most in over 5-1/2 years. Looking ahead, sentiment strengthened for the fifth time in six months and was the third-highest in over four years, amid positive forecasts to the vaccine roll-out and further lifting of restrictions, and Brexit normalization.

The AIB Ireland Services PMI rose to 63.1 in June 2021 from 62.1 in May. This was the highest reading since January 2016, as lockdown restrictions were lifted and more sectors of the economy reopened. During Q2, the Index trended at 61.0, a marked turnaround from the lockdown-influenced 44.0 in Q1 and the highest quarterly figure since Q1 2016. New work growth was at 5-1/2-year-high in June; while employment rose the most in nearly four years, with outstanding business growing at the steepest rate since January 2016. Regarding prices, June data indicated a further intensification of inflationary pressures. The rate of input price inflation accelerated for the fourth time in five months to the highest since July 2008, amid higher fuel, wages, insurance, utilities, freight, and Brexit-related costs. Meantime, prices charged went up the most since November 2018. Lastly, sentiment eased slightly and was the second-strongest since September 2017.

The AIB Ireland Services PMI jumped to 62.1 in May 2021 from 57.7 in April, pointing to the highest reading since March 2016 as COVID-19 restrictions were further eased. In comparison, the index has trended at 54.8 since its inception in May 2000. New orders rose the most since February 2017; while employment grew for the third month in a row, and at the strongest pace since February 2020. Meantime, capacity pressures continued to build, with the rate of expansion in outstanding work unchanged from April's near-three-year high. At the same time, export business growth slowed notably since April, due to continuing restrictions on international travel. Prices data showed input cost inflation hit the highest since July 2008, driven by a range of sources including labor, fuel, insurance, Brexit, energy, and freight charges. Meanwhile, charges levied by service providers rose at the fastest rate since November 2019. Looking ahead, sentiment strengthened to its highest since September 2017.