The AIB Ireland Services PMI rose to a seven-month high of 56.9 in January 2020 from 55.9 a month earlier, due to the removal of Brexit uncertainty following the UK General Election. New orders and exports rose by the most since December 2018, while outstanding work increased at the fastest pace in seven months and the rate of job creation picked up. Regarding inflation, cost pressures remained strong, with input prices rising amid higher labour and fuel cost. Firms subsequently increased their own prices charged, at a rate that remained well above the long-run survey average despite easing since December. Looking ahead, business sentiment strengthened for the fourth successive month to the highest since July 2018.
Services PMI in Ireland averaged 57.61 points from 2011 until 2020, reaching an all time high of 64 points in January of 2016 and a record low of 48.30 points in January of 2012. 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. source: Markit Economics
Services PMI in Ireland is expected to be 56.20 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 56.00 in 12 months time. In the long-term, the Ireland Services PMI is projected to trend around 56.50 points in 2021, according to our econometric models.