Rate of job creation hits 13 month high

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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 a pick-up in new order growth during May, supporting a further solid increase in output. The rate of job creation also accelerated as firms responded to current workloads and positive expectations around future new work. Meanwhile, both input costs and output prices rose at slower rates than in April. Continue reading

Sharpest rise in output so far in 2017

Today sees the release of April data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – signalled the strongest rise in business activity of the year-to-date, while new orders continued to increase solidly and companies were optimistic of further output growth over the coming year. Meanwhile, the rate of job creation accelerated. On the price front, both input costs and output charges continued to rise sharply. Continue reading

Activity rises solidly, but new order growth eases to five-month low

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Today sees the release of March data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – indicated that a solid rise in business activity ended a positive first quarter of the year. Further increases were also seen in new orders and employment. Meanwhile, rates of inflation remained elevated as a result of sterling weakness. Continue reading

Surge in NI exports, but private sector only sees marginal growth

Today sees the release of October data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – signalled that business activity returned to growth, although the rate of expansion was modest as total new orders were largely unchanged in spite of a substantial increase in exports. Export orders were supported by the weakness of sterling, but this also had the effect of pushing up input costs which rose substantially. Continue reading

Output and new orders stagnated during September

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Today sees the release of September data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – indicated that output and new orders stagnated amid a reluctance among customers to commit to spending. That said, companies continued to increase staffing levels. Meanwhile, the rate of input cost inflation remained sharp and output prices rose solidly again. Continue reading

Sterling taking a pounding but will we be trumped by inflation?

When people cast their EU Referendum vote on June 23, I suspect not many would have seen it as a ballot on the price they would pay for their next iPhone. But, in a sense, it was, as the proceeding fall in the value of the pound Sterling has had wide-ranging impacts for the economy – both good and bad – including the price we pay for goods. Continue reading