Market comment

Irish Services PMI falls to seven-year low at 50.6

DAVY VIEW

The puzzle facing Ireland’s economy is perfectly illustrated by yesterday’s buoyant exchequer returns, showing tax revenues up 6.7% on 2018, but with this morning’s October Services PMI falling to a seven-year low at 50.6. The Services PMI indicated that Irish companies had been reluctant to place orders because of Brexit uncertainty. We expect the Services PMI will bounce back in November now that the threat of a ‘no-deal’ Brexit has receded.

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Nov 5 2019, 08:40 GMT

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