09/09/2013
Six-Year High For NI Business Activity
A new survey has suggested the recovery of Northern Ireland's private sector is continuing to improve.
The Purchasing Managers Index (PMI) which is produced by the Ulster Bank, is a monthly survey of a panel of firms which tracks certain indicators such as exports, employment and new orders.
In the latest survey, it found Northern Ireland's business activity grew in the month of August at its fastest rate for six years.
The largest expansion was at the retailers, while manufacturers and service providers are recorded strong growth. However, among the optimism, there is also caution as the region has suffered more at the hands of the recession that the rest of the UK.
As a result, NI's economic recovery will take longer.
Richard Ramsey, Ulster Bank's chief economist in Northern Ireland, said the "stellar performance" of the retail sector been helped by a number of factors including the good weather, as well as the World Police & Fire Games in Belfast and the All-Ireland Fleadh in L'derry.
He added: "The significant rise in service sector employment in August meant that Northern Ireland firms reported their first back-to-back monthly rise in staffing levels since early-2008," he added.
Elsewhere, there were also suggestions that NI's construction sector continues to struggle with a decline in both new orders and employment for the month of August.
(JP/MH)
The Purchasing Managers Index (PMI) which is produced by the Ulster Bank, is a monthly survey of a panel of firms which tracks certain indicators such as exports, employment and new orders.
In the latest survey, it found Northern Ireland's business activity grew in the month of August at its fastest rate for six years.
The largest expansion was at the retailers, while manufacturers and service providers are recorded strong growth. However, among the optimism, there is also caution as the region has suffered more at the hands of the recession that the rest of the UK.
As a result, NI's economic recovery will take longer.
Richard Ramsey, Ulster Bank's chief economist in Northern Ireland, said the "stellar performance" of the retail sector been helped by a number of factors including the good weather, as well as the World Police & Fire Games in Belfast and the All-Ireland Fleadh in L'derry.
He added: "The significant rise in service sector employment in August meant that Northern Ireland firms reported their first back-to-back monthly rise in staffing levels since early-2008," he added.
Elsewhere, there were also suggestions that NI's construction sector continues to struggle with a decline in both new orders and employment for the month of August.
(JP/MH)
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.