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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
IrelandIreland PMI Services fell to 61.5 in January 2014
FMPMonthlyReleased February 2014
Ireland PMI Services fell to 61.5 in January 2014, released February 2014, down 0.3 from December's 61.8 reading.
Latest Release
61.500000
Actual
—
Consensus
61.800000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
PMI Services (Ireland) was reported at 61.50 in February 2014. The reading fell from the previous value of 61.80.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch).
Auto-generated from current model state · Refreshes on each release · Last update February 2014.
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PMI Services - IE
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About PMI Services — Ireland
DEFINITION
PMI Services, or Purchasing Managers' Index Services, is a widely recognized financial indicator that measures the economic activity in the services sector. It provides valuable insights into the health and growth of the services industry, which includes businesses such as healthcare, banking, and transportation. This indicator is based on a monthly survey of purchasing managers from various companies, and is used by investors, policymakers, and analysts to make informed decisions about the state of the economy. A reading above 50 indicates expansion in the services sector, while a reading below 50 suggests contraction. PMI Services is an important tool for understanding the overall economic landscape and predicting future trends.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2014): actual 61.5. Prior reading (Jan 2014): 61.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print. Current dynamics are the primary tailwind in the projection.