Ireland PMI

Ireland

Ireland: Services PMI grows at quickest pace since June 2006 in November

December 4, 2015

The Investec Services Purchasing Managers’ Index (PMI) increased from October’s 60.1 to 63.6 in November The index is now further above the 50-threshold that indicates expansion in the services sector and November marks the fortieth consecutive month of growth in the sector. November’s increase is also the strongest result since June 2006.

November’s reading mainly reflects an increase in client confidence, which led to a growth in new business. The Ivestec report emphasized that client confidence and stronger economic conditions are expected to be the key drivers of growth in 2016. Growth of new orders and new exports orders also picked up in November with new export orders tallying the fastest rate of expansion since September 2014. As new orders increased, backlogs of work also expanded significantly. This increase led to the highest level of expansion in the employment component since the survey began in 2000.

According to the survey report, “more than four times as many panelists reported growth in New Business against those who saw a decrease in November. In a further sign of the broad nature of the expansion in new orders that is being experienced by services firms, all four of the segments within the sector that are captured by this survey […] simultaneously reported increased in New Business, as indeed they have for 30 successive months now. We are also pleased to see that the rate of growth in New Export Business quickened to a 14 month high, with demand from clients in the UK, US and Middle East credited with this outturn”.


Author: Jean-Philippe Pourcelot, Economist

Sample Report

Looking for forecasts related to PMI in Ireland? Download a sample report now.

Download

Ireland PMI Chart


Ireland Services PMI November 2015

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


Ireland Economic News

  • Ireland: Services PMI rises to four-month high in May

    June 6, 2018

    The Investec services Purchasing Managers’ Index (PMI) climbed to a four-month high of 59.3 in May, up from 58.4 in April, thanks to a buoyant economic landscape and more favorable weather conditions.

    Read more

  • Ireland: Consumer sentiment improves in May

    June 5, 2018

    The KBC Bank Ireland/ESRI consumer sentiment index climbed to 106.7 points in May, up from 104.0 points in April, recovering two-thirds of the drop in the previous month.

    Read more

  • Ireland: Industrial production records strong expansion in April

    June 5, 2018

    The highly volatile Irish manufacturing industries production index rose 9.2% over the previous month in seasonally-adjusted terms in April, contrasting a 7.4% month-on-month contraction in March.

    Read more

  • Ireland: Manufacturing PMI inches up to 38-month high in May

    June 1, 2018

    The Investec manufacturing Purchasing Managers’ Index (PMI) inched up to 55.4 points in May from 55.3 points in April, reflecting improved business conditions in the manufacturing sector.

    Read more

  • Ireland: Consumer sentiment deteriorates in April

    May 11, 2018

    The KBC Bank Ireland/ESRI consumer sentiment index slid to a five-month low of 104.0 points in April from 108.1 points in March, continuing a “see-saw pattern” of improving confidence in one month followed by weaker confidence in the next month in a rapidly changing and uncertain economic setting due to the threat of a potential trade war, along with Brexit. April’s loss of consumer confidence reflected increased strains on household finances, underpinned by higher energy costs and restrained wage growth.

    Read more

More news

Search form