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Dublin business activity rebounds as restrictions ease

Dublin business activity rebounds as restrictions ease
rte.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rte.ie Daily Mail and Mail on Sunday newspapers.

Dublin s business activity rises at fastest pace since 2015

Dublin s business activity rises at fastest pace since 2015
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Business activity rebounds in Dublin in Q2 as restrictions ease

Business activity rebounds in Dublin in Q2 as restrictions ease
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Re-imposition of restrictions had severe impact on Dublin business activity in Q1

The latest PMI survey shows that the re-imposition of COVID-19 lockdown measures at the start of 2021 had a severe impact on business activity in Dublin’s private sector in Q1. The survey, produced by IHS Markit for Dublin City Council, shows that the overall output measure fell sharply from 49.2 to 40.4. This indicates severe contraction although at a lesser extent than in Q2 2020 during the first lockdown. Activity also decreased sharply across the Rest of Ireland. All three monitored sectors posted reductions in activity. This was led by construction where all but essential work was prohibited. Lesser reductions were seen across the manufacturing and services categories.

Q4 sees renewed contraction in business activity in Dublin

Following a slight increase in the third quarter, the latest Dublin PMI from IHS Markit, produced for Dublin City Council, shows business activity in Dublin’s private sector decreased in the final quarter of 2020. Output continued to rise in the manufacturing and construction sectors but increased COVID-19 restrictions in October and November brought parts of the services sector to a standstill. The overall decrease to 49.2 was softened by the relaxation of restrictions in December.  Employment contracted for the third consecutive quarter. Although remaining modest, the pace of job cuts was quicker than that seen in Q3. The Rest of Ireland posted a stabilisation of workforce numbers with Dublin’s relative underperformance relecting the dominence of the service industry in the capital.

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