December was the worst month for Northern Ireland's private sector in a decade, outside of lockdowns, an UlsterBankNI survey suggests
Ulster Bank's chief economist, Richard Ramsey, said the four sectors covered by the survey - retail, services, manufacturing and construction - all posted a decline in output, with orders in construction affected most.
Mr Ramsey said the main positive indicator in the survey was more evidence that inflation may have peaked. He said: "Inflationary pressures moderated with firms reporting the weakest rise in input costs in 22 months."But these price rises still exceed anything that occurred in the pre-pandemic era."
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