Northern Ireland's Private Sector Grows, Despite Inflation Spike

Northern Irelands private sector experienced a rise in staffing levels in March, ending a five-month drought, while energy and fuel costs surged, pushing inflation to a three-year peak. Despite slower growth than February and a five-month low in business confidence due to price hikes from the Middle East conflict, new orders grew for the third consecutive month, fastest among all twelve UK regions tracked. All four sectors expanded output, marking the first broad win since October 2024, with companies hiring more due to improved short-term prospects despite rapidly rising selling prices. Meanwhile, UK GDP surged 0.5% in February, the fastest pace in over two years, but experts caution that energy issues could slow down future growth.

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