| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 Asia Economy

Finfacts changes from 2015


How to use our RSS feed

Follow Finfacts on Twitter

Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.


Finfacts is Ireland's leading business information site and you are in its business news section.


Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Global Cost of Living

Irish Tax - Income/Corporate




Content Management by interactivetools.com.

News : Irish Economy Last Updated: Jan 6, 2015 - 7:06 AM

Irish services PMI rose in December
By Michael Hennigan, Finfacts founder and editor
Jan 6, 2015 - 7:02 AM

Email this article
 Printer friendly page

The Irish service sector PMI (purchasing manager index) survey data ended 2014 on a positive footing. December saw faster increases in activity and new business, while staffing levels rose at the joint-fastest pace in the survey’s history. Meanwhile, reports of improving economic conditions and strong pipelines of new work contributed to optimism regarding the prospects for activity growth during 2015.

Google Ireland is the economy's biggest service company and it books 40% of its global revenues in Ireland and almost half Ireland's services exports are tax-avoidance related.

The issue here is the extent of the rise and PMI surveys for both manufacturing and services have exaggerated the growth in actual activity - see more here.

The seasonally adjusted Business Activity Index – which is based on a single question asking respondents to report on the actual change in business activity at their companies compared to one month ago – rose for the second successive month to 62.6 in December, from 61.6 in November.

According to survey respondents, higher new business, as well as improvements in economic conditions and client confidence, had been behind the latest rise in activity.

Although dipping slightly from the previous month, sentiment among Irish service providers remained strong. Companies forecast further improvements in economic conditions and a number of respondents reported having good pipelines of new work heading into 2015.

Markit said that as was the case with activity, new business increased at a faster pace during the month. "The launch of new products had helped lead new orders to rise, with client demand reportedly improving. A sharp rise in new export orders was registered in December, with the UK, US and Middle East all mentioned as sources of new business."

Outstanding business continued to increase, although the rate of accumulation eased for the third consecutive month and was the slowest since February.

The rate of job creation was the joint-fastest in the series history in December, equalling that seen in the first month of the survey in May 2000. Panellists reported having taken on extra staff in response to higher new business and positive expectations for the future.

Input prices continued to increase at a solid pace, reflecting higher wage costs. This was despite reports from some panellists of lower fuel prices. An increase in output prices was recorded in December, extending the current sequence of inflation to nine months. "That said, the latest rise was only slight and the weakest since May. While strengthening client demand had enabled some companies to raise their charges, others reported ongoing competitive pressures," according to Markit.

Related Articles

© Copyright 2015 by Finfacts.ie

Top of Page

Irish Economy
Latest Headlines
Finfacts launches new news site
Irish Farmers & Milk Prices: 'Shackles' off in April; Demanding safety-net in August
Irish pension managed funds returns at over 12% year-to-date in 2015
Irish chartered accountants' salary packages surge 13% in 12 months
Irish services PMI fastest rate since late 2006; Official data up only 2.4% in 12 months
Irish Economy: Tax €893m above target in year to July — €653m from corporation tax
Fact and Fiction: Time to review Ireland's economic statistics?
Irish M&A deals H1 2015: Dutch or UK firm acquires Irish firm for €32.6bn - they are both American
Irish manufacturing PMI strong in July
Irish Economy: Fall in GNP in Q1 2015; GDP rises
Irish Economy 2015: Central Bank lauds strong recovery; Time to start paying down debt
Irish Budget 2016: Ibec demands 20 tax cuts, spending and investment rises
Low pay in Ireland; Lowest social security & corporate taxes in Europe
Ireland vs Greece: Enda Kenny's false claims on growth, taxes and debt
Irish standard of living in 2014 below Euro Area average, Italian level; Prices 5th highest in EU28
Irish goods exports rose a record 30% in April - due to fake tax-related transactions
Mexican tall ship to sail into Dublin on June 17th
Irish industrial production up 20% in first four months of 2015; Construction down 2.6% in first quarter
Irish Economy 2015: ESRI slams return to boom-time pro-cyclical fiscal policy
Irish pension fund returns in average range 1.6% - 1.8% in May 2015
Irish service sector PMI remains strong; Tax avoidance clouds data
Ireland: Official unemployment rate at 9.8% in May; Broad rate at 19% — 440,000 people
Ireland: Fiscal Council warns of dodgy forecasts, no plan; OECD warns of new property bubble
Irish Public Finances: Tax revenue in first five months of 2015 €734m ahead of target
No simple measure of economic progress in Ireland: GDP & GNP defective
Irish manufacturing PMI rises in May; Production up unbelievable 45% in year to March!
ESRI says data volatility hinders Irish economic forecasting; Tax avoidance taboo cause
Ireland at 16 in international competitiveness ranking; US, Singapore and Hong Kong on top
Irish Economy 2015: Sectors to add 200,000 jobs?; Broad jobless rate at 19%
Irish Export Performance: Myths and reality - Ireland is a poor exporter
Irish Economy: 41,300 jobs added in 12 months to Q1 2015 - Construction up 19,600
China-Ireland: Economic relationship on a slow burn
Estonia, Austria, France, Ireland head global alcohol rankings
Irish Exchequer Returns: Tax receipts under target in April but ahead in year
Irish service sector PMI rose in April
Irish manufacturing PMI remained strong in April- includes overseas manufacturing
Irish Live Register + 90,000 activation scheme numbers at 439,000 in April
Ireland: Coalition drops 2018 full-employment target
Ireland Spring Statement: Noonan promises 200,000 net new jobs by 2018
Irish Economy 2015: Retail sales volume up 1.4% in month of March