FX.co ★ Irish Services Growth Eases to 17-Month Low

In June 2025, the AIB Ireland Services PMI experienced a decline to 51.5, down from 54.7 in May, reaching its lowest point since January 2024. This decline comes amidst modest increases in new business and employment. The growth in new business was tempered by a clear reduction in export orders, with foreign sales falling for the first time since October 2023. This downturn is attributed to global trade tensions, affecting sales particularly in the US and European markets. Only the technology, media, and telecom sectors saw substantial growth, alongside solid progress in business services. Job creation slowed, marking the weakest growth phase in the last five months of hiring activity. On the pricing front, input cost inflation tapered to its lowest in nine months, while the rise in output charges slowed to levels not seen since April 2021. Despite maintaining proximity to April’s post-pandemic peak, business sentiment was dampened by economic uncertainties, geopolitical strains, and ongoing pricing pressures.