Uncertainty surrounding Brexit officially “pushed” the North’s private sector into decline last month, as new orders slumped and business activity fell for the first time in three years, a new economic report shows. Ulster Bank’s latest Northern Ireland PMI report highlights that businesses in the North also axed jobs at their fastest rate in six years while the number of new export orders won by Northern Ireland businesses plummeted. “Northern Ireland firms are increasingly pessimistic about the year ahead. He said the PMI report underlines that the North’s largest sector – the service industry – was one of the worst hit by the slowdown with output, orders and employment numbers all significantly impacted. “This has driven a declining picture regarding confidence, with Northern Ireland respondents, particularly in the construction sector, the most pessimistic in the UK regarding future output,” he added.

Source: The Irish Times April 08, 2019 03:56 UTC