Menu
11/05/2009
Downturn 'Ending', Says Ulster Bank
Signs of economic improvement show that the worst of the economic downturn in Northern Ireland has passed.
A new report from Ulster Bank suggests that, although NI's private sector has seen business activity fall sharply and at a much faster rate than the UK average, there are now signs of improvement.
For example, while April's drop in industrial output continued, it was the least marked for eight months.
Ulster Bank also said that new businesses declined at a much slower rate, with the figures suggesting the pace of decline has slowed down overall.
However, the labour market continued to deteriorate, but the number of job losses was also less severe than in the six months prior to April.
The Purchasing Managers' Index survey (PMI) - found April had the highest reading for business activity in eight months.
Bank economist, Richard Ramsey, said: "A range of indicators, including the PMIs, suggest that the worst is now behind us... the latest survey indicates the highest reading for business activity in eight months.
"This indicates that the pace of economic decline is slowing. That said, the PMI still indicates that NI's private sector continues to contract at a more rapid rate than any other UK region and is some 10 index points below the UK reading," he said, noting that the pace of decline in employment levels has also eased and is broadly in line with the UK as a whole.
"This is still consistent with significant job losses across all sectors of the economy."
However, the construction sector is also continuing its current decline according to the Ulster Bank.
While the decline in commercial sector activity appears to be bottoming out, further deterioration is still expected in civil engineering activity, it said.
See: Construction Sector Yet To Build From Decline
(BMcC/JM)
A new report from Ulster Bank suggests that, although NI's private sector has seen business activity fall sharply and at a much faster rate than the UK average, there are now signs of improvement.
For example, while April's drop in industrial output continued, it was the least marked for eight months.
Ulster Bank also said that new businesses declined at a much slower rate, with the figures suggesting the pace of decline has slowed down overall.
However, the labour market continued to deteriorate, but the number of job losses was also less severe than in the six months prior to April.
The Purchasing Managers' Index survey (PMI) - found April had the highest reading for business activity in eight months.
Bank economist, Richard Ramsey, said: "A range of indicators, including the PMIs, suggest that the worst is now behind us... the latest survey indicates the highest reading for business activity in eight months.
"This indicates that the pace of economic decline is slowing. That said, the PMI still indicates that NI's private sector continues to contract at a more rapid rate than any other UK region and is some 10 index points below the UK reading," he said, noting that the pace of decline in employment levels has also eased and is broadly in line with the UK as a whole.
"This is still consistent with significant job losses across all sectors of the economy."
However, the construction sector is also continuing its current decline according to the Ulster Bank.
While the decline in commercial sector activity appears to be bottoming out, further deterioration is still expected in civil engineering activity, it said.
See: Construction Sector Yet To Build From Decline
(BMcC/JM)
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.
22 June 2009
I Declined Speaker Offer, Says Hermon
Sole Ulster Unionist MP Lady Hermon was approached by the Labour Party to contest the office of Commons Speaker, it has been revealed. The "flattered" North Down parliamentarian (pictured) said she was asked by senior Labour figures to stand as a candidate to replace outgoing speaker Michael Martin.
I Declined Speaker Offer, Says Hermon
Sole Ulster Unionist MP Lady Hermon was approached by the Labour Party to contest the office of Commons Speaker, it has been revealed. The "flattered" North Down parliamentarian (pictured) said she was asked by senior Labour figures to stand as a candidate to replace outgoing speaker Michael Martin.
09 June 2014
Construction Activity Rises
The construction sector in Ireland has seen a sharp rise in activity, new orders and employment, according to the latest Purchasing Managers Index from Ulster Bank. Recovery in the Irish construction sector continued in May, despite being slightly below April's figures. Housing activity decreased from 63.4 in April to 60.
Construction Activity Rises
The construction sector in Ireland has seen a sharp rise in activity, new orders and employment, according to the latest Purchasing Managers Index from Ulster Bank. Recovery in the Irish construction sector continued in May, despite being slightly below April's figures. Housing activity decreased from 63.4 in April to 60.
15 April 2009
Recession Hitting Retailing And Construction Hardest
While the construction industry 'led' the way in a league of poorly performing NI businesses sectors, it has emerged that retail businesses have also performing been badly in the local economy this year.
Recession Hitting Retailing And Construction Hardest
While the construction industry 'led' the way in a league of poorly performing NI businesses sectors, it has emerged that retail businesses have also performing been badly in the local economy this year.
23 April 2015
Drop In Public Sector Construction - Survey
Public sector construction in Northern Ireland declined in the first three months of this year, according to a new survey. NI was the only part of the UK which saw a drop, however there has been an overall increase in the building industry. The survey was carried out by the Royal Institute of Chartered Surveyors (RICS) and law firm Tughans.
Drop In Public Sector Construction - Survey
Public sector construction in Northern Ireland declined in the first three months of this year, according to a new survey. NI was the only part of the UK which saw a drop, however there has been an overall increase in the building industry. The survey was carried out by the Royal Institute of Chartered Surveyors (RICS) and law firm Tughans.
-
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.
