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 that business activity in Northern Ireland rose only fractionally in February. The near-stagnation in output reflected Brexit worries, with total new orders falling for the first time in 28 months, new export business down sharply and business sentiment turning negative. Meanwhile, companies lowered their staffing levels for the second month running.
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Employment falls for first time in four years
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 business conditions in Northern Ireland were subdued at the start of 2019 amid Brexit uncertainty. Business activity rose at the weakest pace in 28 months, while new orders increased only marginally. As a result, companies lowered staffing levels for the first time in four years.
Weekly Brief – Pile ‘em high
Another strong US employment report and improved manufacturing sentiment contrasts with continued lacklustre Euro area growth and a downbeat Chinese PMI survey, highlighting diverging trends in the global economy.
New orders stagnate in December
Today sees the release of December data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – pointed to no change in new orders at the end of 2018. Meanwhile, business activity and employment continued to rise solidly, albeit at weaker rates than in November. Both input costs and output prices increased at marked rates again, but inflationary pressures showed some signs of easing at the end of the year.
Faster rise in activity, but new order growth remains modest
Today sees the release of November data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – signalled that growth was maintained in the Northern Ireland private sector in November, with activity rising at a solid pace. That said, rates of expansion in output and new orders were weaker than seen earlier in the year and business confidence remained relatively muted. Continue reading
Weekly Brief – Temporary spurt
UK GDP growth picked up in Q3 but this bounce is likely to be fleeting, judging from latest downbeat business surveys.
Output rises but confidence continues to slide
Today sees the release of October data from the Ulster Bank Northern Ireland PMI. The latest report – produced for Ulster Bank by IHS Markit – pointed to a slight pick-up in growth in October, with both output and new orders rising more quickly than in September. Rates of expansion were still weaker than seen earlier in the year, however. The rate of job creation also ticked up, but business sentiment dropped to the weakest in the 20-month series history. On the price front, both input costs and output prices increased at sharper rates amid higher costs for a range of inputs.
Slowest rise in output in 23 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 – signalled a further loss of growth momentum across the local private sector. Business activity, new orders and employment all rose at weaker rates, while sentiment dropped to the lowest in the 19-month series history. Rates of both input cost and output price inflation remained elevated, but continued to ease at the end of the third quarter.
Silicon Gullion moves into premier league despite retail woes
Ask the man or woman on the street to describe any sector of the economy and the services sector is probably the one that they will struggle with most, despite it being our largest and arguably most important.
Chief Economist’s Weekly Brief – Deadlock
Stronger than expected UK inflation data increases the odds of another modest BoE rate hike next year, but the impasse in latest EU/UK Brexit talks means a BoE move is unlikely before spring 2019, at the earliest.
