Manufacturers' confidence 'rising again' in North

Business confidence among Northern Ireland manufacturers is starting to rise again, according to the CBI today.

But the services sector remains in the doldrums, the CBI’s latest Business Confidence Survey said.

The survey also found that confidence in the Northern Ireland economy is still falling across all sectors and is at its lowest level since September last year.

Deirdre Stewart, assistant CBI director in Northern Ireland, said: “It is perhaps somewhat surprising that manufacturers’ confidence in their own companies has started to rise again, though the fall in the value of sterling against the euro may provide some explanation for this.”

A rise in export market demand may also be linked to currency movements, she said.

On the down side, she said the service sector remained pessimistic “with depressed demand in all sectors”.

Currency fluctuations, insurance costs, falling sales prices, government regulation and competition from low-cost overseas competitors were all reported as the most critical issues facing business, said the CBI.

Energy and transport costs, the cost of employing people and low consumer confidence were also seen as barriers to business development.

Recruitment and retention of staff and a lack of trainee operatives were reported by some industries to be a concern.