The Investec Services Purchasing Managers' Index (PMI) is a leading indicator of economic health in the Irish service sector. It is based on data compiled from monthly replies to questionnaires sent to around 450 purchasing executives in private sector service companies. A reading above 50 indicates expansion in the sector, while a reading below 50 indicates contraction. Investors use this data to gauge the momentum of the Irish economy, which is a key component of the Eurozone.
The index is derived from a survey of purchasing managers who report on changes in variables such as business activity, new orders, and employment. The responses are weighted to reflect the relative contribution of different service sub-sectors to the total economy.
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