The Ulster Bank Northern Ireland PMI for July is published this morning and shows that there was solid growth in the private sector.
Here are some of the key points from the report (you can view and download the full document here):
- Output and new orders both rose in July for the third month running
- The seasonally adjusted Business Activity Index posted 52.6 in July, up marginally from 52.3 in June
- The rate of expansion was broadly in line with those seen in the previous two months, remaining weaker than the UK average
- The NI manufacturing, service and retail sectors all recorded growth in the month, but construction activity continued to fall
- NI companies registered a 6th consecutive monthly rise in staffing levels
- Staffing levels rose at manufacturing and service firms, but fell in the construction and retail sectors
- NI posted a weaker rise in employment than the UK average
- The rate of price inflation quickened to the strongest since December 2014 in July and was faster than the UK average
- According to respondents, higher staff costs and increased raw material prices were behind the latest rise in cost burdens
- Services and construction posted the sharpest rises in input prices, while no change was seen in the retail sector