The latest Ulster Bank Northern Ireland survey says that the local economy saw its 15th successive month of expansion — in terms of output, export orders and employment — in September. Richard Ramsey, chief economist at Ulster Bank, said that the economy “remains on a positive footing.”

However, he added that the rate of expansion in new business slowed for the second month running in September and was the weakest since October 2013, while companies also lowered their output prices for the third time in seven months in September.

Mr Ramsey added: “At a sectoral level, manufacturing was the strongest performer, with September contributing to higher rates of growth in the third quarter than in the second.

"Looking more closely at manufacturing, it recorded the fastest rate of growth in output, new orders and job creation across all the sectors. Indeed, Northern Ireland’s manufacturing firms posted the fastest rate of output growth of practically all the European economies tracked by the Markit Economics group.

“In the near-term, this robust rate of growth among local manufacturers should continue, with order books expanding in September at their fastest rate in almost eight years. Beyond that time-horizon, however, there is mounting evidence that a slowdown is around the corner.”