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10/11/2014
Business Growth Slows
Growth in Northern Ireland business activity has slowed to a 16-month low, according to the latest Purchasing Managers' Index (PMI) from Ulster Bank.
The report shows that private sector output grew in October, albeit at a slower rate than recorded in September. It was also slower than the UK average.
"October saw Northern Ireland's private sector recovery extended to 16 months, however, the latest report marked the slowest rate of growth in business activity during that period," said Ulster Bank chief economist Richard Ramsey.
"All sectors saw a slowdown, however this was most marked within the services and retail sectors. Indeed, local retailers were the only sector to report an outright decline in business activity.
"Despite the overall slowdown in growth, the near-term outlook remains relatively positive, as there is significant momentum in the local economy and its key trading partners, GB and the Republic of Ireland. This momentum should drive the local economy into 2015."
(IT/JP)
The report shows that private sector output grew in October, albeit at a slower rate than recorded in September. It was also slower than the UK average.
"October saw Northern Ireland's private sector recovery extended to 16 months, however, the latest report marked the slowest rate of growth in business activity during that period," said Ulster Bank chief economist Richard Ramsey.
"All sectors saw a slowdown, however this was most marked within the services and retail sectors. Indeed, local retailers were the only sector to report an outright decline in business activity.
"Despite the overall slowdown in growth, the near-term outlook remains relatively positive, as there is significant momentum in the local economy and its key trading partners, GB and the Republic of Ireland. This momentum should drive the local economy into 2015."
(IT/JP)
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
