Modest acceleration in business activity growth in April

Today sees the release of April data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – signalled a mild acceleration in private sector business activity growth, while new orders continued to increase, albeit only marginally quicker than March’s 17-month low. Nonetheless, despite subdued demand pressures, backlogs of work increased further, prompting firms to hire additional staff. In line with a strong and accelerated rate of input cost inflation, businesses reported a further marked increase selling charges.

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Activity rises but orders and jobs growth slip to 7-month low

The Ulster Bank NI PMI for February 2018 is out today. It signalled that the Northern Ireland private sector remained comfortably inside growth territory. That said, rates of expansion in output, new orders and employment all eased over the month. On the other hand, inflationary pressures intensified, with sharper rises in both input costs and prices charged.

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Sharp rise in private sector activity at start of 2018

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The Ulster Bank NI PMI for January 2018 is out today. It shows a pick-up in growth momentum in the Northern Ireland private sector. Business activity rose at the fastest pace since December 2016 . A sharper increase in input costs was also recorded, however, and companies continued to raise their prices at a marked pace. Continue reading

Private sector flat or expanding?

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Robust growth, according to PMI – The last few days has seen a flurry of surveys released on the health of the Northern Ireland economy. Ulster Bank’s PMI pointed to robust growth across the private sector in Q4 2017. The Northern Ireland Chamber of Commerce & Industry’s Quarterly Economic Survey (QES) for the same period was not quite as positive as the PMI.  Nevertheless, both manufacturing and services firms reported growth in the final quarter of 2017. Overall, the performance was more encouraging for the manufacturing sector than for services firms. Continue reading

2017 a positive year but dogs on street know there are challenges ahead

Overall, 2017 has probably been a more positive year for the Northern Ireland economy than many would have expected. A wide range of indicators have improved during the 12 months, including private sector employment (now at a record high), construction activity, and both tourism and trade. However, many other indicators have been on the decline, and there are also some clear warning signs that the economy will begin to slow down in 2018. Here is a flavour of some of the key trends we have seen this year, and which will set the context for moving into the 12 months ahead. Continue reading

Sharp rise in new orders supports further growth of activity

PMI-1Today sees the release of October data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – indicated that the private sector remained firmly in growth territory, despite rates of expansion in output and new orders easing from the previous month. Firms continued to take on extra staff at a solid pace. Meanwhile, input costs rose sharply again and the rate of output price inflation quickened. Continue reading

Sharpest rise in activity in 2017 so far

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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

NI PMI: New order growth picks up in July

July PMI Front.pngThe latest Ulster Bank Northern Ireland PMI is out today. It indicates that solid growth of new orders fed through to a further increase in business activity in July. There were reports of success in securing new work from the Republic of Ireland amid sterling weakness, helping to boost total new business. Job creation was sustained, albeit at a more moderate pace, while inflationary pressures continued to ease.

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