The quarterly Index of Production (IOP) provides a timely indicator of growth in the output of the production industries in Northern Ireland (NI). IOP indices, along with other published quarterly data and unpublished agricultural output data, are used to generate the Northern Ireland Composite Economic Index (NICEI). The NICEI is an experimental quarterly measure of economic activity in NI.
Key Points
Output estimates are calculated from the IOP aspect of the Quarterly Business Survey (QBS). The IOP has a sample size of approximately 1,200 covering all production businesses with 40 or more employees and a representative sample of smaller businesses. All estimates are compared to the revised Quarter 1 2022 and Quarter 2 2021 estimates.
- The NI IOP increased by 0.5% over the quarter (April – June) and by 3.9% over the year.
- The NI IOP is at a ten year high in Quarter 2 2022.
- The UK IOP reported increases of 0.5% over the quarter and 2.0% over the year.
- When the most recent four quarters are compared to the previous four quarters, the NI production sector increased by 4.9% while the UK production sector increased by 2.0%.
- The NI IOP is 6.5% above the pre-Coronavirus pandemic level seen in Quarter 4 2019, while the UK remains 1.2% below its Quarter 4 2019 level.
- The quarterly increase in NI production output of 0.5% has been driven by increases in two of the four main sectors: Manufacturing (0.6%) and Water supply, sewerage and waste management (Inc. recycling) (0.5%). This was partially offset by decreases in Electricity, gas, steam and air conditioning supply (8.7%) and Mining and quarrying (3.2%).
- The annual increase in NI production output of 3.9% was driven by increases in two of the four main sectors: Manufacturing (2.9%) and Water supply, sewerage and waste management (Inc. recycling) (25.3%). This was partially offset by decreases in Electricity, gas, steam and air conditioning supply (5.8%) and Mining and quarrying (16.3%).
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