NI Composite Economic Index: Q2-2018

Date published: 11 October 2018

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 increased by 1.2% in real terms from Quarter 1 (January – March) 2018 to Quarter 2 (April – June) 2018. The index increased by 1.6% over the year to Quarter 2 2018.
• Over the last two years annual output (averaged over the four quarters to Quarter 2 2018 compared to the previous four quarters) increased by 0.3%. 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 (0.3%) than UK GDP1 (1.4%). In the UK quarterly (0.4%) and annual (1.2%) growth was lower than that recorded for NI (1.2% and 1.6% respectively).
• The NI private sector index was estimated to have increased by 1.4% over the quarter and by 1.9% over the year to Quarter 2 2018.
• The Public sector jobs index increased by 0.5% over the quarter and by 0.7% over the year to Quarter 2 2018.
• Full report available here