NI Composite Economic Index: 2017 Q2

Commenting on the figures, Danske Bank Economist Conor Lambe said:

“The Northern Ireland Composite Economic Index experienced a fall over the quarter to 2017 Q2, with output estimated to have fallen in the production, services and public sectors. Construction was the one bright spot, experiencing relatively strong growth in the second quarter of the year.

“Comparing the data with the same period last year makes for slightly better reading. The Composite Economic Index suggests output increased in the second quarter of 2017 relative to the second quarter of 2016, but the pace of growth was modest.

“The drivers behind the slowdown in the Northern Ireland economy are the same as those affecting the rest of the UK – a consumer squeeze brought about by high inflation and Brexit-related uncertainty weighing down on business investment.

“Looking out over the rest of this year and into next year, we expect the Northern Ireland economy to grow by 1.2 per cent in 2017 and by 1.0 per cent in 2018.”

This comment was published in response to the 2017 Q2 Northern Ireland Composite Economic Index released by NISRA on 26th October 2017.​​​

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