NI Composite Economic Index: Q1-2017

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

Key points

• The Northern Ireland Composite Economic Index (NICEI) results show that NI economic activity was estimated to have grown by 0.3% from Quarter 4 (October – December) 2016 to Quarter 1 (January – March) in real terms. The index also increased by 2.4% in real terms between Quarter 1 2016 and Quarter 1 2017.
• Over the last two years annual output (averaged over the four quarters to Quarter 1 2017 compared to the previous four quarters) increased by 1.9%. 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 similar rate (1.9%) compared to UK GDP growth (1.9%). In the UK quarterly growth was 0.2% compared with growth recorded for NI of 0.3%.
• The NI private sector index was estimated to have increased by 0.4% over the quarter and by 3.4% over the year to Quarter 1 2017.
• The Public sector jobs index decreased by 0.1% over the quarter, following an increase last quarter. The index decreased by 0.9% over the year to Quarter 1 2017.
• Full publication available here

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