Confirmation that inflationary pressures are leaving the Northern Ireland economy hamstrung have emerged in the latest PMI report from Ulster Bank, which reported the sharpest slowdown in activity in a decade.
It said that apart from the Covid pandemic and accompanying lockdown restrictions, the rate of activity in the private sector fell at the sharpest pace since November 2012 when the economy was suffering from the after effects of the credit crunch.
Companies reported a fall in customer demand, output and new orders, all accompanied by rising prices which has eased slightly but remain elevated.
