A raft of data emerged from the Department for the Economy today. The most significant release was the Quarterly Employee Survey (QES) for Q2 2017 -a comprehensive survey of the actual number of jobs in the economy. This is more closely watched than the Labour Force Survey which looks at people working in some shape or form (paid, unpaid, self-employed, voluntary etc). Continue reading
The Chancellor would happily swap the UK’s current annual economic growth rate with its inflation rate. While GDP growth remains sluggish and below the rates being experienced in most other EU countries, the converse is true for inflation. Continue reading
Often left in the shadow of a resurgent service sector, finally it’s the manufacturers’ time to step into the sunshine.
Today sees the release of August data from the Ulster Bank Northern Ireland PMI®. The Northern Ireland private sector recorded faster rises in output and new orders during August, supporting further job creation. Sterling weakness played an important role in the local economy, helping firms to secure new export orders but also adding to inflationary pressures. Continue reading
2017 continues to be a disappointing year for new car sales at both a UK and Northern Ireland level. New car registrations in Northern Ireland fell by 9.3% y/y last month. This compared with declines of 10% for Scotland and Wales and almost 6% for England. August represented the fifth successive month of year-on-year declines for both Northern Ireland and UK dealers. Indeed, Northern Ireland has only posted one month of year-on-year gains (March) in eight months and this was linked to changes in vehicle excise duty rates (VED) which artificially inflated sales in March. Continue reading
How to stop worrying and learn to love the economy. Beneath the headlines, last week’s data depict a reasonably sunny economic landscape across the Eurozone, the US and, even the UK. Continue reading
Perhaps the most difficult job of at all at present is predicting what’s going to happen with the labour market, given the uncertainty that exists in the economy, particularly in relation to Brexit. But it’s worth analysing the available data to understand what’s happening in the jobs market and where we might be going. Continue reading
The latest Northern Ireland Residential Property Price Index shows that overall average house prices increased 3.1% quarter-on-quarter and 4.4% year-on-year. Continue reading
The latest PMI surveys highlight some noteworthy trends on the local, national and global economy from July 2017. This slide pack explores them in more detail.
Key highlights include: Continue reading