New orders maintain upward trend in North

ORDERS for new business from Northern companies increased for the 27th month in a row in June, according to the latest monthly survey by Ulster Bank.

The latest Purchasing Managers’ Index (PMI) showed private sector output and new business orders picked up during the month. But the Northern economy expanded at a slower rate than Britain for the ninth month in a row.

A number of firms reported that new contracts were only secured after granting price discounts.