FX.co ★ Irish Services Growth Hits 3-Month High

The AIB Ireland Services PMI rose to 55.3 in March 2025, up from February’s 12-month nadir of 53.2. This latest figure represents the swiftest growth in the services sector since last December, and it aligns closely with the long-term average of 55.1. This is attributed to a significant increase in new business activities, marking the highest growth rate observed in 2025 to date. Notably, three out of four sub-sectors recorded elevated business activity levels, with the technology, media, and telecommunications sector leading the charge. Employment experienced its most rapid expansion in 13 months, with all four sectors reporting increased staffing for the second consecutive month. On the pricing front, input cost inflation reached a 12-month peak, largely attributed to wages, insurance, fuel, food, other agricultural products, and utilities. Consequently, output cost inflation picked up pace, remaining significantly above the long-term average. Business confidence, however, dipped to a 28-month low, falling below the long-term survey average. This decline is attributed to mounting concerns over global trade uncertainties stemming from US-imposed tariffs.