Brexit hits Northern Ireland growth as jobs cut for first time in four years

Brexit hits Northern Ireland growth as jobs cut for first time in four years BelfastTelegraph.co.uk Brexit uncertainty is hitting the economy as growth in business activity slows down and companies cut staff for the first time in four years, according to a report today. https://www.belfasttelegraph.co.uk/business/northern-ireland/brexit-hits-northern-ireland-growth-as-jobs-cut-for-first-time-in-four-years-37801074.html https://www.belfasttelegraph.co.uk/business/northern-ireland/article37801073.ece/cc3ba/AUTOCROP/h342/2019-02-11_bus_47856019_I1.JPG Email Brexit uncertainty is hitting the economy as growth in business activity slows down and companies cut staff for the first time in four years, according to a report today. The Ulster Bank Northern Ireland purchasing managers index said business had been in subdued mood last month – a mood that was likely to linger. While business activity was up in January, it had grown at the lowest rate for well over two years, while January was the second month in a row in which growth had slowed down. And Ulster Bank chief economist Richard Ramsey said this year may also see a sustained fall in jobs, after a peak in the market in 2018. June last year witnessed a record high, with 556,250 private sector jobs. But this year, the services sector, which covers everything from estate agents to restaurants, was leading the way in job losses. While the construction, services and manufacturing sectors all recorded output growth, expansion was slowing down. And the retail sector had contracted, which Mr Ramsey said signalled waning consumer confidence. The economist said: “Throughout 2018 the theme was one of ever slowing growth, with quarter four the weakest quarter in nine. This trend has continued into 2019,… [Read full story]