Output growth softens to five-month low

Today sees the release of August data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – showed signs of growth in the Northern Ireland private sector losing momentum, with both output and new orders rising at softer rates. Solid job creation continued, however. Meanwhile, near record increases in input costs and output prices were recorded.

Most of the UK regions saw business activity grow at a slower rate in August, and Northern Ireland was no exception.  Last month marked local firms’ slowest rates of growth in output, orders and employment in five months.  But a two-speed recovery was on show in August at a sector level. 

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Strongest growth of new orders for almost seven years

Today sees the release of June data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – signalled further strong increases in output and new orders as the loosening of COVID-19 restrictions continued. Inflationary pressures intensified further, however, with input costs and output prices both rising at the fastest rates on record.

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Activity ramps up amid lockdown easing

Today sees the release of May data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – pointed to marked improvements in new orders and output. The extent of the increase in workloads meant that firms expanded their staffing levels at a pace unsurpassed in almost 19 years of data collection. That said, inflationary pressures remained elevated, with the pace of increase in input costs accelerating again.

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Chief Economist’s Weekly Briefing – Promising

The UK economy has emerged from the second wave of the virus with limited short term damage. GDP contracted by 1.5% over the first quarter, less than feared at the onset of the third lockdown. Even better, high frequency indicators are pointing towards a brighter outlook. All 12 regions reported growth in April with Northern Ireland posting its first month of private sector expansion since last September. Local firms are the most optimistic about the year ahead since the pandemic struck.

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Activity returns to 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 return to growth in output at the start of the second quarter, supported by a renewed expansion of new orders. In response, firms upped their rate of job creation. That said, rates of input cost and output price inflation accelerated again.

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Business activity shows signs of stabilisation in March

Today sees the release of March data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – pointed to output and new orders nearing stabilisation, while employment increased amid growing confidence for the year-ahead outlook. That said, input costs and output prices surged at record rates, while there were widespread reports of supply delays.

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Output price inflation at record high amid steep rise in input costs

Today sees the release of February data from the Ulster Bank Northern Ireland PMI. The latest report – produced for Ulster Bank by IHS Markit – signalled further sharp falls in output and new orders in the Northern Ireland private sector amid the continuing coronavirus disease 2019 (COVID-19) lockdown. Meanwhile, prices surged higher, with selling prices raised to the greatest extent since the survey began in August 2002.

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Output falls at fastest pace since May last year amid COVID-19 lockdown

Today sees the release of January data from the Ulster Bank Northern Ireland PMI. The latest report – produced for Ulster Bank by IHS Markit – indicated that the Northern Ireland private sector moved deeper into contraction territory at the start of 2021 amid a further coronavirus disease 2019 (COVID-19) lockdown. Meanwhile, inflationary pressures continued to strengthen, largely as a result of higher shipping costs.

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Decline in activity softens, while employment nears stabilisation

Today sees the release of December data from the Ulster Bank Northern Ireland PMI. The latest report – produced for Ulster Bank by IHS Markit – signalled that the Northern Ireland private sector remained in contraction, but rates of decline in output, new orders and employment all softened. Meanwhile, inflationary pressures strengthened.

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