The AIB Ireland Services PMI tumbled to 45.8 in September 2020 from 52.4 in August. The latest figure signaled a sharp decline in output by the survey's historical standards, albeit one much less severe than those registered from March through June. New business contracted at the fastest rate since June, amid rising virus cases and economic uncertainty. Meantime, a combination of weakening demand and higher labor costs linked to the end of the temporary COVID-19 wage subsidy scheme (TWSS) led the rate of job shedding to level off, following a four-month period of slowing cuts. On the price front, input costs rose for the third month running while selling prices increased for the first time in seven months, albeit only slightly. Finally, business sentiment slipped for the third successive month following June's rebound.

Services PMI in Ireland averaged 56.29 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 October of 2020. source: Markit Economics

Services PMI in Ireland is expected to be 50.00 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 52.80 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.

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Ireland Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
45.80 52.40 64.00 13.90 2011 - 2020 points Monthly


News Stream
Irish Services PMI Falls Sharply into Contraction Territory
The AIB Ireland Services PMI tumbled to 45.8 in September 2020 from 52.4 in August. The latest figure signaled a sharp decline in output by the survey's historical standards, albeit one much less severe than those registered from March through June. New business contracted at the fastest rate since June, amid rising virus cases and economic uncertainty. Meantime, a combination of weakening demand and higher labor costs linked to the end of the temporary COVID-19 wage subsidy scheme (TWSS) led the rate of job shedding to level off, following a four-month period of slowing cuts. On the price front, input costs rose for the third month running while selling prices increased for the first time in seven months, albeit only slightly. Finally, business sentiment slipped for the third successive month following June's rebound.
2020-10-05
Ireland Services PMI Rises Further
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.
2020-09-03
Ireland Services PMI Returns to Growth
The AIB Ireland Services PMI has risen each month since hitting a record low of 13.9 in April, but the latest reading of 51.9 was the first to breach the crucial 50.0 mark that separates contraction from expansion. Three out of four sub-sectors registered growth of total activity in July, with the strongest expansion recorded in Transport, Tourism and Leisure. The rate of job shedding was the slowest since March when the economy was locked down to contain the coronavirus outbreak. On the price front, input costs rose for the first time since March while output prices continued to fall. Finally, sentiment regarding the 12-month outlook for activity remained positive in July.
2020-08-06
Ireland Services PMI Recovers Further
The AIB Ireland Services PMI improved to 39.7 in June 2020 from 23.4 in the previous month, suggesting that the most severe phase of the pandemic hit to business had passed. All six subindices registered record monthly gains and recovered further from lows in April. New orders and activity continued to decline, but at the slowest rates since the downturn began in March. Meanwhile, employment continued to fall sharply, but expectations turned positive. On the price front, inflationary pressures continued to weaken in June, with average input prices falling for the third month. Looking ahead, 47% of firms expect growth of activity at their units by June 2021, much higher than the proportion expecting a decline (24%).
2020-07-03

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.