Ireland PMI November 2016

Ireland

Ireland: Services PMI picks up in November from October's multi-year low

December 5, 2016

The Investec Services Purchasing Managers’ Index (PMI) increased from 54.6 in October to 56.0 in November. The result reflected a faster expansion in activity, new business and employment. The index remains above the 50-threshold that separates expansion from contraction in the services sector, where it has been for over four years.

November’s print reflected a pickup in business activity growth and new orders in Ireland. Backlogs of work increased in November as service firms faced increased new business. Employment growth accelerated in November driven by higher volumes of new business. Regarding price developments, input prices roses on the back of higher costs insurance and staff costs, which ultimately contributed to increasing output costs.

According to the survey report, however, growth in demand still provides some positive news: “Our suspicion is that the worst of the pressures faced by the more external-facing parts of the Irish economy in the immediate aftermath of Brexit has passed, with the latest Investec PMIs for Ireland giving comfort to this view.”

FocusEconomics Consensus Forecast panelists expect investment to expand 7.8% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees investment rising 7.1%, which is also unchanged from last month’s forecast.


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 2016

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