Daily Mirror (Northern Ireland)
Economy weakens amid Brexit chaos
Report reveals cycle has turned Uniting for a good cause
The Northern Ireland economy has shown the most concerning signs yet that Brexit is damaging business. Ulster Bank’s latest PMI report revealed activity in all areas of the economy has weakened over the last month.
It follows a short-term boost earlier in the year as companies stockpiled ahead of the March 31 deadline but, now the date for the UK leaving the European Union has been pushed back to October, the latest PMI index is giving a “truer reflection of the real state of play”.
Richard Ramsey, Chief Economist in Northern Ireland for Ulster Bank, said output, new orders and exports all declined last month. He added:
“After six years of growth, it appears that the economic cycle has turned. The severity or otherwise of that downturn will depend on a range of factors.”
“The kind of Brexit that we see will of course be a major factor. But what is in no doubt is that the private sector overall is currently in a weaker state.”
The impact from Brexit has not only been felt in Northern Ireland with other parts of the UK also struggling in the face of uncertainty.
Mr Ramsey added: “Northern Ireland’s downturn is more pronounced than the UK’S.” THIS month marks the start of Carson Mcdowell’s year-long partnership with the Cancer Fund for Children.
Its support through various fundraising events will help the local charity provide practical and emotional support, as well as free therapeutic short breaks to children with cancer, children living with a parent diagnosed with cancer, and their families.
Pictured is Sarah Clements, who is Corporate Fundraiser at Cancer Fund for Children, with Jacqueline Mcaleese, who is Partner and Head of Carson Mcdowell’s charity committee.