Activity in the Northern Ireland economy continued to contract last month as businesses struggled with falling demand and slimmer order books, according to the Ulster Bank PMI.
A contraction in activity was reported across all four sectors measured by the report, extendeding a poor run for the province’s private sector, one which was most pronounced during the summer months.
Northern Ireland’s performance was one of the worst across all 海角视频 regions in September, with only the North East and Yorkshire and Humberside recording sharper rates of decline.
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New orders fell for the fourth month in row, with the construction sector hardest hit and business owners in that sector not optimistic for the months ahead.
Countering the negativity in the headline figures was the fact the supply chain issues which have dogged businesses since the Covid-19 pandemic appear to be lifting further with supply chain delivery times easing for the sixth consecutive month.
Demand for staff also remains high with companies – excluding those in the services sector - increasing their staffing levels at the fastest pace of all 海角视频 regions.
However, there appears to be little to cheer for Northern Ireland’s businesses in the short term, either from the wider economy or from Stormont,” Richard Ramsey, the Chief Economist for Ulster Bank in Northern Ireland, said.
“While we may be anticipating an Indian Summer in the coming weeks weather-wise, a similar improvement in business conditions during October doesn’t look likely. Similarly on the political front, there is no immediate sign of a return of the Stormont Executive."