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Economics

Ulster Bank Regional Growth Tracker report for June 2025

Employment increases for first time in five months.

  • Modest increase in staffing levels 
  • Renewed fall in business activity 
  • Selling price inflation at four month low 

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 – posted 48.2 in June, back below the 50.0 no-change mark following a reading of 50.9 in May. The index pointed to a modest reduction in output at the end of the second quarter.

 

Sebastian Burnside, Ulster Bank Chief Economist, commented: 

“There was good news for the local labour market in June as companies reported an easing of recent recruiting difficulties as they expanded workforce numbers for the first time since January. Moreover, Northern Ireland was the only area of the UK to see employment rise. “Other aspects of the latest Growth Tracker paint a more subdued picture, however. The expansion in output we saw last month was not sustained into June as new order inflows remained muted. Companies are still confident about the yearahead outlook, however, so we will hopefully see some demand and output improvements during the second half of the year. “Although output prices increased sharply on the back of further rapid cost rises, there was a further slowdown in the pace of selling price inflation. If continued, this could potentially help to support demand improvements over the months ahead.”

 

Ulster Bank Northern Ireland Growth Tracker (PDF, 700KB)

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