Northern Ireland Economic Output Statistics

Date published: 13 June 2024

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The economic output statistics were published today by the Northern Ireland Statistics & Research Agency (NISRA).

Economic Output Statistics
Economic Output Statistics

Commentary

  • Output in the services sector increased by 1.9% over the first quarter of 2024, reaching a series high, and by 2.9% over the year.
  • Retail output in NI saw an increase of 4.1% in Quarter 1 2024 and an increase of 2.6% over the year.
  • Production sector output decreased by 1.5% over the first quarter of 2024 and decreased by 4.5% over the year.
  • When comparing current output with the pre-Coronavirus pandemic levels seen in Quarter 4 2019, NI service output is 9.9% above its pre-pandemic level, while NI production output is 0.9% below its pre-pandemic level, and NI Retail output remains 2.6% below its pre-pandemic level.

Services Sector Output

  • The NI IOS increased by 1.9% over the first quarter of 2024 (January - March), reaching a series high. NI IOS increased by 2.9% over the year. UK output increased by 0.7% over the quarter, to reach a UK series high, and by 0.3% over the year.
  • When the most recent four quarters are compared to the previous four quarters the NI services sector increased by 2.7% while the UK services sector increased by 0.2%.
  • NI services output is now 9.9% above the pre-Coronavirus pandemic level seen in Quarter 4 2019 while UK services output is 4.1% above its Quarter 4 2019 level.
  • The 1.9% quarterly increase in NI services output reflected increases in the Wholesale and retail trade; repair of motor vehicles and motorcycles; accommodation and food service sector (2.2%); the Business services and finance sector (0.7%); and the Other services sector (3.5%). The only sector to show a quarterly decrease was the Transport, storage, information and communications sector (3.3%) [1]
  • The 2.9% increase seen in NI services output over the year was driven by rises in Wholesale and retail trade; repair of motor vehicles and motorcycles; accommodation and food service sector (2.6%); the Business services and finance sector (6.7%); and the Transport, storage, information & communication sector (0.5%). In contrast the Other services sector decreased 0.1%.

[1] Note that each broad sector index and the overall IOS index are seasonally adjusted independently of each other. It is not appropriate to directly compare the changes in the broad sectors to the changes in the overall IOS index.

Retail Sector Output

  • The retail sales sector refers to SIC 47 (Retail trade, except of motor vehicles and motorcycles) and is a subset of the Index of Services (IOS).
  • Retail output in NI saw an increase of 4.1% in Quarter 1 2024 and an increase of 2.6% over the year.
  • GB RSI output experienced increases of 1.9% over the quarter and 0.2% over the year.
  • NI RSI output in Quarter 1 2024 is 6.2% below the series high seen in Quarter 3 2020, but is still 7.2% above the series low seen in Quarter 1 2021.
  • NI RSI output remains 2.6% below the pre-Coronavirus pandemic level seen in Quarter 4 2019 while GB RSI output is now 2.2% below its Quarter 4 2019 level.

Production Sector Output

  • The NI IOP decreased by 1.5% over the quarter (January - March) and decreased by 4.5% over the year. The UK IOP increased by 0.9% over the quarter and 0.5% over the year.
  • When the most recent four quarters are compared to the previous four quarters, the NI production sector decreased by 3.6% while the UK production sector increased by 0.2%.
  • The NI IOP is 0.9% below the pre-Coronavirus pandemic level seen in Quarter 4 2019, while the UK remains 8.1% below its Quarter 4 2019 level.
  • The quarterly decrease in NI production output of 1.5% was driven by decreases in Manufacturing (0.4%) and Mining and quarrying (11.8%). This was partially offset by an increase in Electricity, gas, steam and air conditioning supply (0.9%). Water supply, sewerage and waste management (Inc. recycling) was unchanged over the quarter (0.0%).
  • The annual decrease in NI production output of 4.5% was driven by decreases in all four sectors - Manufacturing (3.7%), Electricity, gas, steam and air conditioning supply (0.2%), Water supply, sewerage and waste management (Inc. recycling) (1.8%) and Mining and quarrying (21.9%).

Upcoming Releases

  • The NI Composite Economic Index and Quarterly Construction Enquiry are scheduled for publication on 27 June 2024.
  • The next Labour Market Report will be published on 18 July 2024.
  • The Index of Production and Index of Services reports for Quarter 2 2024 will be published on 12 September 2024.

Notes to editors: 

1. This report will be of interest to Ministers, policy makers, public bodies, the business community, banks, economic commentators, academics and the general public with an interest in the local economy.

2. The RSI has been released as an experimental statistic, which means that it is in a testing and development phase. NISRA will continue to review the methodology and may make changes to it in the future.

3. The detailed statistical bulletins are available at on the NISRA website at Index of Services and Index of Production. Further information and tables from each of the data sources are also available at these locations. As part of the NISRA Outputs Consultation, which ended on 15 October, the experimental NI Quarterly Retail Sales Index was included in the revised Index of Services bulletin. Similarly, the format of the Index of Production was amended.

4. For media enquiries contact the Department for the Economy Press Office at pressoffice@economy-ni.gov.uk

5. The Executive Information Service operates an out of hours service for media enquiries only between 1800hrs and 0800hrs Monday to Friday and at weekends and public holidays. The duty press officer can be contacted on 028 9037 8110.

6. To keep up to date with news from the Department you can follow us on the following social media channels:

7. Feedback is welcomed and should be addressed to: Responsible statistician: Carole-Ann McKay, Economic & Labour Market Statistics Branch (ELMS), Carole-ann.mckay@nisra.gov.uk or Tel: 028 9025 5119.

8. Follow NISRA on X (Formally Twitter) - @NISRA

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