North's economy 'continues slowdown'
The latest Ulster Bank Purchasing Managers’ Index report for Northern Ireland indicates the continued slowdown of growth of the Northern Ireland private sector economy, though this was in line with the general trend seen across the UK.
A fifth consecutive monthly decline in the seasonally-adjusted Business Activity Index to a level of 53.7, from 53.9 in November, suggested that the rate of growth had eased to its weakest for 18 months and was again below the UK average.
However, levels of business activity and new orders in the North's private sector expanded for a twenty-first successive month in December.
Firms reported that demand for their products had remained firm, with increased advertising and new product introductions adding to growth of activity and new business.
Some reports of weaker client spending meant rates of expansion continued to slow in December, easing to their weakest since June 2003. In both cases, growth remained below the averages for the UK as a whole.
December’s survey data also signalled further expansion of the Northern Ireland private sector workforce.
Growth has now been recorded in each of the past 20 months and, despite slowing slightly, the rate of expansion in December remained solid and above the UK average.
Firms that raised employment generally did so to boost capacity to deal with increased workloads.
