Services and construction sectors help Dublin business activity end year with strong growth

The latest PMI from S&P Global recorded a reading of 53.2 during the period October to December - up from 50.8 during the previous three month period.

Business activity in Dublin recorded strong growth during the final months of 2025 particularly in the services and construction sectors despite a marginal decrease in employment, the latest Dublin Purchasing Managers Index (PMI) shows.

The latest PMI from S&P Global recorded a reading of 53.2 during the period October to December — up from 50.8 during the previous three month period. Any figure above 50 denotes growth in the PMI.

The S&P Global PMI is a survey of business activity in Dublin calculated using responses from around 200 businesses per month across the services, manufacturing and construction sectors. The overall PMI is based on the output/business activity question from each survey.

In terms of sectoral performance, the services sector in Dublin recorded a reading of 55.5 — a strong recovery after experiencing a contraction in the third quarter — while the construction sector had a reading of 55.1.

However, the manufacturing sector dipped into contraction territory with a PMI reading of 49.4.

New business continued to grow during the final quarter of the year with new orders increasing for the second quarter, although the rate of expansion during the period was modest, it had accelerated from what was seen between July and September.

However, employment decreased marginally during the fourth quarter with a quarterly fall in staffing levels recorded for the first time in five years. The employment index decreased to 49.8, from 52.3 in the third quarter.

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“Other employment data also shows signs of softening and so is worth keeping an eye on,” the PMI said.

Economics director at S&P Global Market Intelligence Andrew Harker said there were “mixed signals” from the Dublin PMI for the end of the year.

“On the positive side, output growth quickened amid marked increases in business activity in the services and construction sectors. In fact, the all-important service sector posted the fastest expansion since mid-2023, shrugging off the third-quarter soft patch,” he said.

“Less positive was a first reduction in employment in five years, perhaps reflective of the more muted output requirements seen earlier in 2025. If business activity continues to rise at a similar pace in early-2026 as in the final quarter of last year, firms will likely be looking to take on extra staff again soon.”