Menu
13/10/2014
Economy Growth Slows
Northern Ireland's economy continues to recover, but growth has eased to an 11-month low, according to the latest Ulster Bank Purchasing Managers' Index.
The private sector remained strong at the end of the third quarter of 2014, as further sharp rises in activity and new business were recorded. However, the rate of expansion in new orders eased for the second month running. With new business increasing, companies raised staffing levels. Cost inflation continued to slow, while selling prices were reduced for the first time since February.
The Business Activity Index rose to 57.4 in September from 56.7 in August, indicating further increase in activity at private sector firms. This means activity has risen in each of the past 15 months. Manufacturing posted the strongest growth in output.
Despite this, the rate of expansion in new business slowed for the second month running in September and was the weakest since October 2013. New export orders rose, with respondents mentioning higher new business from the Republic of Ireland.
Some firms reported that rising new orders had led outstanding business to accumulate, while others reported efforts to reduce work-in-hand.
September saw a further increase in employment in Northern Ireland, according to the report, marking the fifteenth in as many months. Job creation was recorded across all four monitored sectors, but the rise in staffing levels in Northern Ireland was weaker than the UK average.
Input prices continued to rise, but the rate slowed for the second month running to the weakest since June 2012. Input costs rose at weaker rates in each of the four monitored sectors.
Companies lowered output prices for the first time in seven months during September, although only marginally. Lower selling prices were recorded at services and retail companies, with charges rising in the manufacturing and construction sectors.
(IT/CD)
The private sector remained strong at the end of the third quarter of 2014, as further sharp rises in activity and new business were recorded. However, the rate of expansion in new orders eased for the second month running. With new business increasing, companies raised staffing levels. Cost inflation continued to slow, while selling prices were reduced for the first time since February.
The Business Activity Index rose to 57.4 in September from 56.7 in August, indicating further increase in activity at private sector firms. This means activity has risen in each of the past 15 months. Manufacturing posted the strongest growth in output.
Despite this, the rate of expansion in new business slowed for the second month running in September and was the weakest since October 2013. New export orders rose, with respondents mentioning higher new business from the Republic of Ireland.
Some firms reported that rising new orders had led outstanding business to accumulate, while others reported efforts to reduce work-in-hand.
September saw a further increase in employment in Northern Ireland, according to the report, marking the fifteenth in as many months. Job creation was recorded across all four monitored sectors, but the rise in staffing levels in Northern Ireland was weaker than the UK average.
Input prices continued to rise, but the rate slowed for the second month running to the weakest since June 2012. Input costs rose at weaker rates in each of the four monitored sectors.
Companies lowered output prices for the first time in seven months during September, although only marginally. Lower selling prices were recorded at services and retail companies, with charges rising in the manufacturing and construction sectors.
(IT/CD)
Related Northern Ireland News Stories
Click here for the latest headlines.
14 October 2010
Economy Needs Fillip - Not Cut-backs
Stimulating enterprise and trade must be a priority going beyond public sector cuts says banking economists. According to the Northern Bank's Chief Economist Angela McGowan, (pictured) decision-makers need to bring forward measures for growing the private sector alongside anticapated proposals to slim the public sector.
Economy Needs Fillip - Not Cut-backs
Stimulating enterprise and trade must be a priority going beyond public sector cuts says banking economists. According to the Northern Bank's Chief Economist Angela McGowan, (pictured) decision-makers need to bring forward measures for growing the private sector alongside anticapated proposals to slim the public sector.
11 August 2014
NI Private Sector Grows In July
Northern Ireland's private sector saw growth in both activity and new business in July, indicating continued economic recovery, according to the latest Ulster Bank Purchasing Managers' Index. Companies took on extra staff at "a solid pace" during the month, albeit at a rate slightly reduced from June.
NI Private Sector Grows In July
Northern Ireland's private sector saw growth in both activity and new business in July, indicating continued economic recovery, according to the latest Ulster Bank Purchasing Managers' Index. Companies took on extra staff at "a solid pace" during the month, albeit at a rate slightly reduced from June.
10 March 2014
NI Posts 'Robust Growth'
Northern Ireland experienced "robust output growth" in February, led by a ninth successive monthly rise in new business, according to the latest Ulster Bank Purchasing Managers' Index (PMI). The private sector saw a further sharp increase in business activity at, aided by another month of strong new order growth.
NI Posts 'Robust Growth'
Northern Ireland experienced "robust output growth" in February, led by a ninth successive monthly rise in new business, according to the latest Ulster Bank Purchasing Managers' Index (PMI). The private sector saw a further sharp increase in business activity at, aided by another month of strong new order growth.
14 April 2014
NI Private Sector Expands
Private sector business in Northern Ireland during March expanded at a faster rate than the overall UK average, according to a new report from Ulster Bank released today. Continued growth of business activity and new orders was recorded at Northern Ireland companies last month, contributing to a record rise in employment.
NI Private Sector Expands
Private sector business in Northern Ireland during March expanded at a faster rate than the overall UK average, according to a new report from Ulster Bank released today. Continued growth of business activity and new orders was recorded at Northern Ireland companies last month, contributing to a record rise in employment.
28 September 2004
Small business sector 'confident but concerned'
A new report has revealed that over half of Northern Ireland's small businesses have been victims of crime during the past year. The Federation of Small Businesses (FSB) 'Lifting the Barriers to Growth' Biennial Membership Survey 2004 examined issues and problems relating to small business growth in the province.
Small business sector 'confident but concerned'
A new report has revealed that over half of Northern Ireland's small businesses have been victims of crime during the past year. The Federation of Small Businesses (FSB) 'Lifting the Barriers to Growth' Biennial Membership Survey 2004 examined issues and problems relating to small business growth in the province.
-
Northern Ireland WeatherToday:The day will be very windy with strong to gale force westerly winds becoming occasionally severe along the north coast. Sunny spells will be interspersed with scattered showers. Maximum temperature 8 °C.Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
