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16/07/2014
NI Growth Continues
The economy in Northern Ireland has grown steadily for a full year, according to the latest Purchasing Managers' Index (PMI) from Ulster Bank.
Output growth in the Northern Ireland private sector extended to a year in June. The report said panellists increased their staffing levels during the month and both input costs and output prices rose at faster rates than in May.
Business activity at Northern Ireland private sector firms increased in June, according to the report. It said the rate of expansion remained sharp and slightly faster than the UK-wide average, but slowed from the previous month.
Respondents linked higher activity mostly to a further increase in new business. As with activity, the retail sector saw the fastest growth in new business.
Higher new orders also precipitated an increase in backlogs of work in June, while companies responded by taking on extra staff.
Employment in Northern Ireland has now increased in each of the past 12 months, according to the report.
However, the rate of cost inflation in Northern Ireland remained faster than the UK average in June and picked up from that seen in May. Reasons included higher prices for energy and raw materials and increased staff costs.
(MH/IT)
Output growth in the Northern Ireland private sector extended to a year in June. The report said panellists increased their staffing levels during the month and both input costs and output prices rose at faster rates than in May.
Business activity at Northern Ireland private sector firms increased in June, according to the report. It said the rate of expansion remained sharp and slightly faster than the UK-wide average, but slowed from the previous month.
Respondents linked higher activity mostly to a further increase in new business. As with activity, the retail sector saw the fastest growth in new business.
Higher new orders also precipitated an increase in backlogs of work in June, while companies responded by taking on extra staff.
Employment in Northern Ireland has now increased in each of the past 12 months, according to the report.
However, the rate of cost inflation in Northern Ireland remained faster than the UK average in June and picked up from that seen in May. Reasons included higher prices for energy and raw materials and increased staff costs.
(MH/IT)
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Northern Ireland WeatherThis Evening and Tonight:Continuing cloudy through the evening with further outbreaks of rain, the rain turning lighter and patchier from the south as the night progresses. Winds remain light. Minimum temperature 8 °C.
