Ireland skyline

Ireland PMI October 2020

Ireland: Services PMI drops to five-month low in November

The AIB services sector Purchasing Managers’ Index (PMI) dropped to 45.4 in November from October’s to 48.3, marking the lowest reading since June. Consequently, the index fell further below the 50-threshold that separates contraction from expansion in business activity.

November’s reading chiefly came on the back of declining total activity, with the sharpest fall registered in the tourism and leisure sector. Meanwhile, new business contracted at a slower rate compared to the previous month. Regarding the labor market in the sector, employment fell for the ninth month straight, albeit the rate of job shedding eased. On the price front, input cost inflation rose to a nine-month high, while output charges fell for the first time in three months. Lastly, sentiment among services sector firms rose to a ten-month high as the outlook for the year ahead was positive amid increasing hopes of a Covid-19 vaccine in 2021.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest