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Irish services sector growth slowed to 7-month low in November – PMI
Published by maria gbaf
Posted on December 3, 2021
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
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Published by maria gbaf
Posted on December 3, 2021
2 min readLast updated: January 28, 2026
Ireland's service sector growth slowed in November, with the PMI dropping to 59.3 due to a COVID-19 surge. The Omicron variant's impact is still uncertain.
DUBLIN (Reuters) – Growth in Ireland’s service sector fell to a seven-month low in November as a surge in COVID-19 infections cooled the enthusiasm of consumers, a survey found on Friday.
The AIB IHS Markit Purchasing Managers’ Index (PMI) dropped to 59.3 in November from 63.4 the month before, remaining well ahead of the 50 mark that separates growth from contraction. It has fallen below 50 nine times since the start of the pandemic.
Ireland has been reporting COVID-19 case numbers near record highs since early November, even though 91% of eligible people over the age of 12 are fully vaccinated.
The death rate has been far lower than earlier waves, however, and case numbers have stabilised in recent days. The government has reported its first case of the Omicron variant, but has said it is too soon to judge its likely impact on the economy.
Reports of rising COVID-19 case numbers weighed on business levels and expectations, with the slowdown evident in all of the survey’s sub-indices, the survey’s authors said.
The 12-month outlook was the weakest since March and growth in employment slowed, the survey showed. Inflationary pressures remained strong with input and output prices near record highs.
(Reporting by Conor Humphries; Editing by Toby Chopra)
The article discusses the slowdown in growth of Ireland's service sector in November, as indicated by the PMI, due to rising COVID-19 cases.
A surge in COVID-19 infections has dampened consumer enthusiasm, leading to a slowdown in the services sector.
The Purchasing Managers' Index (PMI) for November dropped to 59.3, indicating slower growth in the services sector.
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