Economy

Northern Ireland private sector grows faster than UK average in March

New Ulster Bank figures indicated that NI employers’ optimism reached a six-year high, in spite of increased costs

Northern Ireland’s economy outperformed each of the other 11 UK regions for growth in new orders and employment in March. Picture: Ballygally View Images

The rate of growth of the Northern Ireland private sector was much faster than the UK average in March, according to new figures.

Data from the Ulster Bank Northern Ireland purchasing managers’ index (PMI) indicated that the seasonally-adjusted Business Activity Index was 56.6 in March, with over 50 showing an increase on the month before, up sharply from 53.6 in February.

The rate of growth was the fastest since February 2022, as all four sectors ...