Today sees the release of March data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – indicated that the Northern Ireland private sector ended the first quarter of 2016 on a high, with growth of both output and new orders accelerating.
PMI March 2016 findings:
- The headline seasonally adjusted Business Activity Index rose to 56.4 in March from 54.9 in February
- The rate of expansion in Northern Ireland was in excess of the UK average
- Service providers recorded a sharp increase in activity, and the strongest since July 2014.
- Growth was also seen at construction and retail companies, while manufacturing output stabilised following a fall in February
- Employment also continued to increase at a solid pace
- The rate of input cost inflation eased, while output prices were broadly unchanged
- New orders also increased at a faster pace in March, the rate of growth quickening to an 18-month high
- New export orders also increased
- Northern Ireland companies increased staffing levels in March, for the 14th month in a row
- Backlogs of work rose for the fifth successive month, and at a faster pace than in February
- Although input prices continued to increase during March, the rate of inflation eased to the slowest since last November
- The construction sector posted the fastest rise in input prices of the four monitored sectors
- Northern Ireland companies left their output prices broadly unchanged
PMI March 2016 infographic:
Download the PMI Report (March 2016)
Listen to Richard Ramsey talking about the latest PMI
You can also click to view the Ulster Bank Construction PMI Report (ROI).