Business activity in NI private sector fell in December

Business activity in Northern Ireland's private sector fell in December for the first time in more than a year, according to a survey by Ulster Bank.

Every month it asks firms across the private sector about their order books, staffing levels and exports in what is considered a reliable indicator of economic performance.

Last month saw a drop in business activity at companies in Northern Ireland and a further fall in new orders.

Despite this, firms continued to take on staff.

NatWest chief economist Sebastian Burnside said ending the year on a "softer" note was a "marked turnaround" compared to the growth reported earlier in the year.

He added that despite the reductions in output and new orders, Northern Ireland was the only part of the UK to see a rise in staffing levels.

The survey suggested business confidence was weaker than the average for the year, which it said in some cases was due to the UK government's Budget but also concerns about Northern Ireland water and development constraints.

Official figures on the performance of the Northern Ireland economy in the third quarter of 2024 are due to be published later this week.

Preliminary data, released in December, suggested that the service sector which is the largest part of the economy, saw output expand by 1.1% compared to the previous quarter.

There was also the first sign of a recovery in manufacturing with the best quarterly growth since early 2021.