NI Composite Economic Index: Q2-2019

Date published: 10 October 2019

The NICEI is an experimental quarterly measure of the performance of the NI economy based on available official statistics.

Key points

• Northern Ireland’s economic output increased in real terms over the quarter (0.3%) and the year (1.0%) to Quarter 2 2019.
• Comparisons with the UK over the same period show that the NICEI grew at a faster rate (0.3%) than UK GDP1 (-0.2%) over the quarter, but at a slower rate over the year to Quarter 2 2019 (1.0% for the NICEI against 1.3% for UK GDP).
• There was an increase in Northern Ireland’s annualised rate of growth to Q2 2019 (1.5%). This compares to 1.7% estimated for the UK over the same period. It is evident, the NI annualised rate of growth has increased over the last three years, as NI annual growth over the previous two year period (to Quarter 2 2018) was -0.1%.
• There was an increase in private and public sector growth over the quarter (0.2% and 0.5% respectively) and the year (1.0% in both instances).
• Full report.