Commenting on the figures, Danske Bank Economist Conor Lambe said:
“Today’s Northern Ireland Composite Economic Index data suggests that economic growth slowed in the first quarter of 2017. However, this was to be expected given the very high growth rates observed in the index for the last three months of 2016.
“The data indicates that overall economic output increased by 0.3 per cent between the last quarter of 2016 and the first quarter of 2017. This quarterly growth was driven by increased services activity with output estimated to be falling in the production, construction and public sectors.
“While it is obviously good news that the economy is growing, there are still a number of challenges on the horizon including the continuing squeeze on consumers, the impact of Brexit-related uncertainty on business investment and the lack of a local Executive.”
This comment was published in response to the 2017 Q1 Northern Ireland Composite Economic Index published by NISRA on 20th July 2017.