Ulster Bank's latest purchasing managers index (PMI) pointed to further reductions in activity and new orders amid ongoing cost pressures, while business confidence sank further.

Business activity in Northern Ireland declined for the sixth month running in October, according to a new report.
That said, companies continued to expand their staffing levels as part of efforts to rebuild workforce numbers following the pandemic.
The monthly survey, which is based on the experiences of hundreds of private sector businesses across construction, manufacturing, retail and services, signalled all sectors saw business activity decline in October. It also revealed the rate of contraction in new orders quickened slightly and was the fastest since January 2021, while new export business was also down sharply.