Northern Irelands Business Activity Saw Its Biggest Boost In Almost 6 Years

12 Aug 2013

Northern Ireland’s business activity saw its biggest boost in almost 6 years with more good news to come. The Index of Ulster Bank Northern Purchase Manager showed that, thanks to the rise in orders, July saw the 1st rise in staffing levels for six months. Along with the increase in output, growth of new business and manufacturing, the recent heatwave is also mentioned as having contributed to rising activity.

The Chief Economist for Northern Ireland’s Ulster Bank, Richard Ramsey, said that the heatwave in July has been both literal and economic. He emphasized that though the PMI of Northern Ireland has been a reliable, yet gloomy barometer of economic conditions for local firms in the past 71 months, the July 2013 survey is strewn with positives. With the increased new orders, employment, business activity and exports in July, almost one-third of firms reported a rise in activity.

Ramsey also said that the local firms saw its fastest rate of increased business activity in all sectors of the economy experiencing booming rates of growth. The growth in new business orders in July suggests that business activity should remain resilient in the near future. There is also a surge in export orders for the first time since January 2008.
For people form hospitality and retail industries, it is a great opportunity to work in Ireland as August is expected to be a good month for these sectors due to the World Police and Fire Games, one of the main events in Northern Ireland.

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