Ireland PMI June 2019

Ireland

Ireland: Services PMI broadly unchanged in June

July 3, 2019

The Irish service sector remained largely stable in June, as reflected by only a marginal decrease in the AIB service Purchasing Managers’ Index (PMI) to 56.9 from 57.0 in May, thus remaining comfortably above the critical 50-point threshold that separates improvement from deterioration in business conditions.

Both output and new orders rose in June, albeit at a softer pace than in May, while new export orders increased at the fastest pace in five months. Moreover, the rate of employment creation accelerated, in order to cope with increased demand and the highest levels in backlogs in almost a year. Meanwhile, both input and output prices softened. Lastly, business sentiment remained positive and was broadly unchanged in June.

FocusEconomics Consensus Forecast panelists expect fixed investment to grow 9.4% in 2019, which is up 0.4 percentage points from last month’s forecast. For 2020, the panel sees fixed investment growth decelerating to 5.2%.


Author:, Economist

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Ireland Services PMI June 2019 1

Note: Investec Services PMI. Readings above 50 indicate an expansion in the services sector while readings below 50 indicate a contraction.
Source: AIB and IHS Markit.


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