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. source: Markit Economics

Services PMI in Ireland averaged 56.25 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 December of 2022.

Services PMI in Ireland is expected to be 54.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ireland Services PMI is projected to trend around 53.40 points in 2023, according to our econometric models.

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Ireland Services PMI



Related Last Previous Unit Reference
Services PMI 50.80 53.20 points Nov 2022
Manufacturing PMI 48.70 51.40 points Nov 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
50.80 53.20 66.60 13.90 2011 - 2022 points Monthly

News Stream
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
Irish Services PMI Drops to 19-Month Low
The AIB Ireland Services PMI fell for the fifth time in six months to 54.1 in September 2022, from 54.7 in August. While pointing to the 19th month of increase in services activity, the latest print was the lowest in the sequence and remained below its long-run average of 55.1. Activity in transport & tourism fell for the first time since December 2021, while that in technology & telecoms rose at a slower rate. New business grew the least since March 2021, amid weak overseas demand. At the same time, employment rose at the softest pace in eight months with a further build-up in outstanding business. On prices, the rate of input cost inflation was little-changed from August's six-month low, but still among the highest on record linked to energy and wages. Similarly, the increase in prices charged was the sixth-highest since the survey began in 2000. Finally, sentiment weakened to the weakest since late-2020, due to fears around the impact of inflation on demand.
2022-10-05