NI Composite Economic Index: Q4-2017

Date published: 12 April 2018

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

• The Northern Ireland Composite Economic Index (NICEI) results show that NI economic activity was estimated to have increased by 0.4% in real terms from Quarter 3 (July – September) 2017 to Quarter 4 (October – December) 2017. However, the index decreased by 0.2% over the year to Quarter 4 2017.
• Over the last two years annual output (averaged over the four quarters to Quarter 4 2017 compared to the previous four quarters) increased by 1.1%. 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 (1.1%) than UK GDP1 (1.8%). That said, over the quarter the NICEI and UK GDP grew at the same rate (0.4%).
• The NI private sector index was estimated to have increased by 0.4% over the quarter but decreased by 0.3% over the year to Quarter 4 2017.
• The Public sector jobs index increased by 0.4% over the quarter and by 0.3% over the year to Quarter 4 2017.
• NICEI publication and tables Q4-2017