Output growth eases again in February, but remains solid

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Today sees the release of February data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – signalled further solid growth of output during February, despite the rate of expansion easing further from the high seen at the end of last year. Both new orders and employment rose at sharper rates, with growth of each broadly in line with the UK average. Meanwhile, inflation of both input costs and output prices remained elevated. Continue reading

Surge in NI exports, but private sector only sees marginal growth

Today sees the release of October data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – signalled that business activity returned to growth, although the rate of expansion was modest as total new orders were largely unchanged in spite of a substantial increase in exports. Export orders were supported by the weakness of sterling, but this also had the effect of pushing up input costs which rose substantially. Continue reading

Activity falls back in April but firms raise employment

Today sees the release of April data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – suggested a modest deterioration in business conditions at companies in Northern Ireland as output and new orders declined following growth in March. That said, firms continued to increase their staffing levels during the month. On the price front, the rate of cost inflation remained modest and output prices continued to fall.

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Six years of inflation comes to an end in February

According to the latest Ulster Bank NI PMI, Northern Ireland’s private sector firms reported their third successive month of falling output in February. Beneath this headline, however, there were signs of improvement relative to the January report, when there was a simultaneous decline in output, new orders and employment, with only the services sector in expansion mode.

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