Economy NI: Strong growth in first quarter, data suggests

Northern Ireland’s economy grew strongly in the first quarter of 2024, official data suggests.

The economy expanded by 1.4% compared to the final quarter of 2023.

Most of that growth came from the services sector – which is the largest part of the economy.

There was also growth in the construction sector, however manufacturing output continued to decline.

Northern Ireland’s economy was essentially flat during 2023 as high inflation hit consumer spending and a series of public sector strikes also affected output.

The broader economic environment has been improving recently with the rate of inflation easing and public sector pay disputes being resolved.

That is reflected in a better performance for consumer services with the broad retail and hospitality sector growing by 2.2% in the first quarter of the year.