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14/04/2014
NI Private Sector Expands
Private sector business in Northern Ireland during March expanded at a faster rate than the overall UK average, according to a new report from Ulster Bank released today.
Continued growth of business activity and new orders was recorded at Northern Ireland companies last month, contributing to a record rise in employment. The rate of input cost inflation quickened sharply and output prices rose, following a reduction in February.
New business at Northern Ireland private sector firms rose for the tenth successive month in March, with the rate of expansion having quickened from that recorded in the previous month.
All four sectors posted increases in new business. The construction sector posted a record rise in new orders. New export orders also increased, extending the ongoing expansion to nine months.
Business activity rose in March, with company expansions and a strengthening economy supporting growth. The service sector posted the sharpest rise in activity. However, the increase in output in Northern Ireland was still weaker than that seen across the UK economy as a whole.
Sharper rates of job creation were recorded in the manufacturing, services and construction sectors. Staffing numbers in Northern Ireland increased at a quicker pace than at the UK level.
However, the pace of increase in input prices quickened in March, reversing a slowdown seen in the previous month. The construction sector registered the fastest rise in input costs, thought to be a result of higher supplier charges and staff costs. The rate of inflation in Northern Ireland was much faster than the UK average.
(IT/JP)
Continued growth of business activity and new orders was recorded at Northern Ireland companies last month, contributing to a record rise in employment. The rate of input cost inflation quickened sharply and output prices rose, following a reduction in February.
New business at Northern Ireland private sector firms rose for the tenth successive month in March, with the rate of expansion having quickened from that recorded in the previous month.
All four sectors posted increases in new business. The construction sector posted a record rise in new orders. New export orders also increased, extending the ongoing expansion to nine months.
Business activity rose in March, with company expansions and a strengthening economy supporting growth. The service sector posted the sharpest rise in activity. However, the increase in output in Northern Ireland was still weaker than that seen across the UK economy as a whole.
Sharper rates of job creation were recorded in the manufacturing, services and construction sectors. Staffing numbers in Northern Ireland increased at a quicker pace than at the UK level.
However, the pace of increase in input prices quickened in March, reversing a slowdown seen in the previous month. The construction sector registered the fastest rise in input costs, thought to be a result of higher supplier charges and staff costs. The rate of inflation in Northern Ireland was much faster than the UK average.
(IT/JP)
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