The Ulster Bank Northern Ireland PMI for December is released today. Here is a snapshot of the findings. You can download the full report at the end of this post.
- The headline seasonally adjusted Business Activity Index posted 52.3 in December, down marginally from 52.6 in November but continuing to signal a solid expansion in private sector output in Northern Ireland.
- Activity has now risen in each of the past eight months
- According to respondents, improving market conditions and rising new export business had contributed to the increase in activity.
- Manufacturing production returned to growth following a fall in November.
- Total new business rose for the eighth consecutive month in December.
- Moreover, the rate of growth quickened for the second month running and was the fastest since August.
- Higher new business led to a build-up of backlogs of work, the second in as many months.
- Firms increased their staffing levels for the eleventh successive month during December.
- Three of the four (manufacturing, construction, services, and retail) monitored sectors posted higher employment, the exception being manufacturing.
- Input prices increased at the fastest pace for a year at the end of 2015, with a number of respondents highlighting rising staff costs.
- The service sector posted the strongest rate of inflation, with the latest increase the fastest since April 2014.
- Output prices at Northern Ireland companies rose for the second month running in December.
- The rate of inflation was slight and broadly in line with that seen across the UK economy as a whole.
Download the full Ulster Bank NI PMI report and slidepack here.