Today sees the release of October data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – signalled that surging price rises acted as a brake on the Northern Ireland private sector, restricting growth of business activity and contributing to a decrease in new orders. Both input costs and output prices rose at new record rates. On a more positive note, companies expanded their staffing levels at a sharp and accelerated pace.
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New orders decline for first time in six months
Today sees the release of September data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – indicated that companies in Northern Ireland continued to expand their business activity, despite a first reduction in new orders for six months. Meanwhile, both input costs and selling prices increased at the sharpest rates on record.
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.
Output continues to rise, but rate of growth eases to four-month low
Today sees the release of July data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – pointed to further increases in output and new orders, although rates of expansion eased from June. The rate of job creation accelerated, while inflationary pressures remained elevated.
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.
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.
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.
Continue readingActivity 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.
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.
Continue readingOutput 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.
