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Economics

Ulster Bank Regional Growth Tracker report for July 2024

Northern Ireland leads UK growth in July.

Key findings

  • Marked increases in output and new orders
  • Rate of job creation at 15-month high
  • Slight softening of inflationary pressures

 

The headline Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s private sector – posted 54.9 in July to signal a further marked increase in output. This was despite the reading dropping from 55.8 in June. The expansion in output in Northern Ireland was the sharpest of the 12 UK regions and nations covered by the report. Where activity increased, panellists generally linked this to higher new orders. Three of the four monitored sectors saw activity rise, the only exception being construction.

 

Please see the regional report in full:

Ulster Bank Northern Ireland Growth Tracker (PDF, 983KB)

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