The Economy in Northern Ireland


The latest NI Composite Economic Index report published on the 14th April 2016 provides the most recent statistics on the performance of the NI economy. The headline figures over quarter 4 2015 show:

The Northern Ireland Composite Economic Index (NICEI) results show that NI economic activity was estimated to have increased by 0.4% in real terms between Quarter 3 (July September) and Quarter 4 (October December) 2015. The index also increased by 0.9% over the year (Quarter 4 2014 to Quarter 4 2015) in real terms.
Over the last two years annual output, (averaged over the four quarters to Quarter 4 2015 compared to the previous four quarters) increased by 1.4%. Although the measures are not produced on a fully equivalent basis, comparisons with the UK over the same period show that the NICEI grew at a slower rate (1.4%) compared to UK GDP growth (2.3%).
The NI private sector was estimated to have grown by 0.7% over the quarter, by 2.0% over the year to Quarter 4 2015, and by 2.3% for the whole of 2015, compared to 2014.
The Public sector jobs index decreased by 0.5% over the quarter, and is now at its lowest level since the series began in 2002. As previously reported, the index has been impacted by the Voluntary Exit Scheme (VES), currently being implemented by the Northern Ireland Civil Service, which will see an ongoing reduction in the number of public sector employees.
The NICEI is currently 3.1% above the minimum reached in Quarter 3 2012.

More information can be found here.

More information

Statistical information on the NI economy can be obtained from a number of sources:
1. Major Economic Statistics - major economic statistics.
2. Regional Gross Value Added - statistics across the UK
3. Regional Gross Disposable Household Income - UK statistics
4. Residential Property Price Index - latest quarterly index

Other key publications

Detailed Economic statistics for small areas can also be obtained from the Northern Ireland Neighbourhood Information Service website by clicking here

Interactive content on Residential Property Prices can be found here.