Job creation slows as Brexterity beckons…

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

Sharpest rise in activity in 2017 so far

PMI August Top Image.png

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

Stuck in Reverse

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