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Economics

Ulster Bank Regional Growth Tracker report for July 2025

Northern Ireland leads UK in terms of job creation

  • New business placed with private sector firms in the North East of England climbs for 11 consecutive months
  • Fastest rise in employment for ten months
  • Output nears stabilisation
  • Further solid fall in new orders


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 – rose to 49.7 in July, below the 50.0 nochange mark for the second month running but above the reading of 48.2 in June, and signalling a near stabilisation of private sector output at the start of the third quarter.
 

Sebastian Burnside, Ulster Bank Chief Economist, commented:

“Although demand conditions generally remained subdued as the second half of the year got underway, Northern Ireland continued to outperform the rest of the UK in terms of job creation. Staffing levels were up solidly amid positive expectations for the coming year. Greater resources should hopefully help lead to a pick-up in business activity, which neared stabilisation in July. “Strong inflation remained a key headwind for firms, and there was little sign of this easing off in the latest survey period. For demand to really pick up over the second half of 2025, we will likely need to see some softening of price pressures in the near future.”

Please see the regional report in full:
 

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