An Ulster Bank poll indicates that the private sector in Northern Ireland grew in July and may have outperformed the UK average. Each month, a representative sample of nearby companies is surveyed by the bank.

It seems that the private sector in Nigeria has expanded during 2024; in July, new orders increased significantly as inflation continued to show indications of abatement.

Official data from July indicates that corporate payrolls continued to expand, suggesting that the labour market is still quite solid.

"Everything seems set up for firms to have a successful second half of 2024," stated Richard Ramsey, chief economist at Ulster Bank. Of all the UK areas and countries included in the analysis, Mr. Ramsey said, the growth in business activity in Northern Ireland was the strongest.

He did, however, issue a warning that there are still variations between sectors. Manufacturing and services saw increases in July, while retail and construction production remained unchanged.