Despite some notable examples of excellent practice, Northern Ireland’s voluntary sector overall is lagging behind in terms of digital transformation and this is impacting on its ability to remain competitive and deliver services.
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 that the Northern Ireland private sector moved deeper into contraction territory. Business activity, new orders and employment all fell to the greatest extents since the final quarter of 2012, with Brexit and a lack of government at Stormont impacting negatively on operations. Weakening demand led companies to raise their selling prices at only a modest pace during the month, despite continued sharp input cost inflation.
There has been a steady stream of negative news of late about consumer spending and consumer confidence. The latest car sales figures for Northern Ireland reveal that last month was the quietest for car showrooms in eight years. Meanwhile retail sales fell at their fastest pace in almost four years in February, according to the Ulster Bank PMI. And talk of food shortages and potential tariff-induced price rises if a no-Deal Brexit comes to pass will have done little to boost consumer sentiment. However, despite all of this, when we look at figures in relation to housing – the biggest discretionary consumer spending item of all – they appear to be at odds with everything else that is going on.
The latest NIJobs.com Jobs Report with Ulster Bank indicates a robust local jobs market at the end of 2018, despite ongoing uncertainty around Brexit and the lack of a functioning local Executive and Assembly.
Third sector organisations are facing increased financial pressures heightened as demand for services maintains its sharp incline and reductions in government funding continue, according to new research.
What were the economic highlights and lowlights of 2018? What will be good, bad and ugly in 2019? Who will be next year’s economic villain? What word would you use to sum up what you expect to see in the next 12 months? These and many other questions about the Northern Ireland and global economies are asked and discussed in our new podcast, which we’ve boldly called the Big Economic Quiz of the Year.
And fittingly, we have some big fish from the local economics community contributing. Angela McGowan, Director of the CBI in Northern Ireland and Richard Johnston, Deputy Director of the Ulster University Economic Policy Centre join our own Richard Ramsey and business journalist Jamie Delargy to review, predict and ruminate.
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
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.
Today sees the release of May data from the Ulster Bank Northern Ireland PMI®. The latest report – produced for Ulster Bank by IHS Markit – signalled that growth in the Northern Ireland private sector picked up, with faster increases in output, new orders and employment recorded. Meanwhile, higher fuel costs contributed to a pick-up in the rate of input price inflation and output prices continued to rise sharply.
Sense that spring was postponed too long this year? The UK economy and the Bank of England feel the same.