Northern Ireland private-sector recovery has slowed, survey finds

Ulster Bank survey showed weakest increase in business activity rates since mid-2013

The North’s private sector continued its steady return to health last month but at a much slower pace than before, according to a new economic report, new orders and employment all rose at weaker rates last month.

The latest Ulster Bank PMI survey, which measures local private sector performance, showed the weakest increase in business activity rates since the middle of last year.

The increase in the pace of activity was also much slower than in the UK economy average.

Richard Ramsey, chief economist Northern Ireland with Ulster Bank, said the latest survey paints a mixed picture of local business conditions.

“Whilst Northern Ireland’s private sector recovery extended to 17 months in November the overall theme is one of an economic slowdown,” he said.

“Last month represented the weakest rate of growth in both business output and new orders since the recovery began in mid-2013.”

He said the difference between the local and average UK private sector growths last month represented the widest since the North’s private sector displayed signs of recovery in mid-2013.

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