Ireland skyline

Ireland PMI February 2021

Ireland: Services PMI rises in February but remains in contractionary territory

The AIB services sector Purchasing Managers’ Index (PMI) rose from 36.2 in January to 41.2 in February. Consequently, the index continued to remain well below the 50-threshold that separates contraction from expansion in business activity.

February’s upturn largely reflected a more moderate decline in both business activity and new work. The transport, tourism and leisure sector again contracted the sharpest, albeit at a slower rate than January. Moreover, new business declined again, although at a softer pace, amid still-suppressed domestic and external demand, notably from the UK. These weak conditions also led firms to cut their workforce numbers for the 11th straight month. Regarding prices, although firms reported higher fuel, insurance, salaries and shipping costs, output charges were lowered in an effort to remain competitive. More positively, firms’ sentiment reached a 13-month high, driven by expectations for a resurgence in business once restrictions are lifted as vaccination campaigns take hold.

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