According to Investec Services PMI Ireland, data collated from monthly responses to questionnaires given to around 450 private businesses in the country’s private service sector is used to calculate the PMI. An index reading that is higher than 50.0 indicates that the corresponding variable (i.e. new orders, price, employment, etc.) is expanding, an index reading that is lower than 50.0 indicates that the corresponding variable is contracting, and an index reading that is at 50.0 indicates that the situation is stable when compared to the previous month.
A higher than expected figure should be seen as positive (bullish) for the EUR while a lower than expected figure should be seen as negative (bearish) for the EUR.
