Business optimism has declined in Northern Ireland during the past four months in stark contrast to improvements across the rest of the UK, according to the Confederation of British Industry (CBI) in its latest Regional Industrial Trends Survey.

Aggregate order books increased in the four-month period, the first rise since the beginning of last year, but the rate of increase did not match up to the expectations of industrialists. Export orders rose for the first time in nearly three years. However, it appears the continued strength of sterling is still causing concern, with 92 per cent of firms stating that prices are likely to limit exports.

Despite the lack of business optimism, both total orders and export orders are still expected to increase over the next four months. Projections are positive for output and employment.