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Northern Ireland's economy slowed in the final quarter of last year, official data suggests.

Output in the services sector fell by 0.3% compared to the previous quarter.

Services is the dominant part of the local economy, covering a broad swathe of activity including retail, hospitality and business services.

Meanwhile the production sector, which includes manufacturing, saw output increase by 0.4% over the quarter.

The services sector accounts for just over half of economic output while production is around 15%.

Aside from business services, all subsectors saw a quarterly fall in output.

However services output is still close to a record high, and is 7% above its pre-pandemic level.

Business services and finance, which includes things like law, accountancy and management consulting, has seen particularly strong growth since the pandemic.

Its output is almost 30% higher than at the end of the pandemic - that may reflect the work that Northern Ireland-based staff do for UK and international customers.

Manufacturing output increased by 0.7% over the quarter but the figures suggest that 2023 was a tough year for the sector as it faced cost inflation and muted demand.

On a rolling four quarter basis output was down by 2.1%.

There were significant divergences between subsectors: pharmaceutical output was at its lowest level since 2015 while the industrial equipment sector saw output climb to a record high.

Other data released this week suggests the local economy may have picked up since the start of the year.

Ulster Bank's monthly survey suggests the .