The AIB Ireland Services PMI increased to 23.4 in May 2020 from 13.9 in April, recovering from the lowest on record as the economy shut down to halt the spread of the coronavirus outbreak and services remained severely restricted. Activity fell at the second-fastest rate since the survey began in May 2000, as all four sub-sectors continued to contract sharply. Transport, tourism & leisure again registered the fastest decline, and technology, media & telecoms the slowest. On the price front, deflationary pressures remained in May, with average input prices falling for the second month running and firms cutting their own charges the most since April 2013. Looking ahead, sentiment for the next 12 months remained negative, but less so than in March and April.
Services PMI in Ireland averaged 56.63 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 July of 2020. source: Markit Economics
Services PMI in Ireland is expected to be 42.00 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 51.00 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.