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14/11/2016
Latest Purchasing Managers' Index 'Mixed Blessing' For Businesses
The latest figures from the Ulster Bank's Purchasing Managers' Index (PMI) have shown a modest rise in private sector business activity.
The Index revealed that while growth in NI was weaker than in the rest on the UK, export orders saw a substantial increase. The retail sector led the overall increase in business activity, closely followed by manufacturing and services.
However, the construction sector noted a decline on output and was the only sector to reduce staffing levels.
Chief economist at Ulster Bank, Richard Ramsey, described the results as a "mixed blessing".
He said that in terms of the EU referendum vote, a fall in the value of sterling against the euro has led to export price competitiveness, some respondents to the survey noted increased uncertainty was negatively affecting orders.
The report can be read in full on the Ulster Economix website.
(MH/LM)
The Index revealed that while growth in NI was weaker than in the rest on the UK, export orders saw a substantial increase. The retail sector led the overall increase in business activity, closely followed by manufacturing and services.
However, the construction sector noted a decline on output and was the only sector to reduce staffing levels.
Chief economist at Ulster Bank, Richard Ramsey, described the results as a "mixed blessing".
He said that in terms of the EU referendum vote, a fall in the value of sterling against the euro has led to export price competitiveness, some respondents to the survey noted increased uncertainty was negatively affecting orders.
The report can be read in full on the Ulster Economix website.
(MH/LM)
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