Ireland PMI September 2021

Ireland

Ireland: Services PMI unchanged in September

October 5, 2021

The IHS Markit Services Purchasing Managers’ Index (PMI) came in at 63.7 in September, matching August's reading. Consequently, the index remained entrenched above the 50-threshold, signaling a continued improvement in business conditions at an unchanged pace from the previous month.



Financial services and business services registered stronger growth than in August, with financial services’ output increasing at a close to seven-year high. This was counterbalanced by slower growth in transport, tourism and leisure as well as in technology, media and telecoms. Total services activity was boosted by a further increase in demand in September, with the volume of new business growing for the seventh month running, and at a rate which exceeded that seen in August. Moreover, outstanding business grew at an elevated rate, despite strong employment growth. Input price inflation rose to the highest level since December 2000, while output price inflation also continued to rise, albeit at a milder pace than in August.

FocusEconomics Consensus Forecast panelists project fixed investment to contract 25.7% in 2021, which is down 3.8 percentage points from last month’s forecast. For 2022, the panel sees fixed investment growth at 12.8%, which is up 2.6 percentage points from last month’s forecast.


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Ireland Services PMI September 2021

Note: IHS Markit Services PMI. Readings above 50 indicate an overall increase in business activity compared to the previous month, and below 50 an overall decrease.
Source: AIB and IHS Markit.


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