North enjoys economic boost

The private sector in the North had increased output growth as underlying demand rose in the first quarter of 2004, according to the latest Purchasing Managers’ Index (PMI).

Positive trends were recorded in employment numbers and backlogs of work in March, but input costs rose more sharply than output prices.

Pat McArdle, chief economist with Ulster Bank, who produced the survey, said the North’s economic growth “comfortably outpaced” both the Republic and the eurozone.