ARCTIC WEATHER conditions which prevented shoppers from travelling across the Border to stock up in stores in Northern Ireland delivered a further setback for the North’s fragile economy last month, a new report suggests today.

New economic research shows business activity in the North’s private sector fell at its fastest rate in seven months during the cold spell at the beginning of 2010.

According to Ulster Bank’s Purchasing Managers’ Index (PMI), a survey which looks at business levels across key sectors in Northern Ireland, many firms experienced both a sharp decline in new orders and a squeeze on profits last month.

Some businesses such as retailers and service providers blamed the “adverse weather conditions” in January for the big freeze in business activity. The marked slowdown in the private sector inevitably contributed to yet more job losses in the North last month. This marks the 23rd month of continuous job losses. Northern Ireland experienced the fastest rate of job losses of all the UK regions.