Business confidence in Northern Ireland lowest since summer 2020

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According to an Ulster Bank survey, cost pressures and economic uncertainty had the biggest impact.

Businesses in Northern Ireland reported the sharpest fall in new orders in the UK last month, according to an Ulster Bank survey.Every month the bank asks firms from across the private sector about things like staffing levels, exports and new orders.All 12 UK regions contracted in October.

Ulster Bank Chief Economist, Richard Ramsey, said Northern Ireland firms posted the biggest drop in incoming work last month of the 12 UK regions. "Firms suggest that this pick-up in hiring is linked to long-standing recruitment difficulties and rebuilding workforces following the pandemic."

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