The latest AIB Ireland Services PMI reveals a surge in new business growth, reaching a nine-month high and boosting overall activity in the Irish economy.
Tourists taking photos at the Cliffs of Moher, one of the most popular leisure destinations in the country. Strong increases in new business were recorded in tourism and leisure last month, according to an AIB survey. Photo by Athanasios Gioumpasis/Getty ImagesNew business growth hit a nine-month high, generating another sharp rise in total activity in the Irish economy and lifting the outlook for 2025, according to the latest AIB Ireland Services PMI.
Figures for December signalled a further strengthening in demand conditions, as the volume of new work received by service providers increased at the fastest pace since March. Stronger increases in new business were recorded in transport, tourism and leisure, and technology, media and telecoms. New business from international clients rose at the fastest rate in more than 18 months, with a notable boost to services exports in business services. The seasonally adjusted AIB Ireland Services Business Activity Index fell only slightly to 57.1 in December, from 58.3 in November. The final reading of 2024 indicated a sustained sharp rise in services activity – the second-strongest since April 2023 – and the index remained well above the long-run trend level of 55.1. A reading above 50 indicates an overall increase compared to the previous month.With a glut of electric cars on sale for under €30,000, will Irish people make the switch? Remote working: ‘We see younger workers in particular saying they don’t want to come back because of the expense involved’Service providers were their most optimistic on growth since February in December. Almost half (47 per cent) of companies expected an increase in business activity over the coming 12 months, up from 40 per cent in November, with reports of improving market conditions and new business opportunities. Overall confidence also rose above the long-run survey average at the end of the yea
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