Chief Economist’s Weekly Brief – Delivering

The UK’s service sector delivered yet again in Q3, propelling the economy to a 0.5%q/q expansion. In the past five years service sector output has risen 14%. Not far behind the 17% rise in the five ‘boom’ years to 2008.  So it’s a robust performance. Higher inflation will provide a test over the coming year. But at least momentum is strong.

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New orders rise at sharpest pace in eight months

Graphic about the February 2016 Ulster Bank NI PMI, which is pointing to growthin business activity

Today sees the release of February data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by Markit – signalled that Northern Ireland’s solid start to the year was maintained, with both activity and new business rising at similar rates to seen in January. Furthermore, data suggested sharper increases in Northern Ireland than across the UK as a whole. There were, however, further signs of weakness in the manufacturing sector during the month. Continue reading