NI Economic Outlook November 2011

Medium term prospects for both UK and NI are very subdued with UK GDP growth forecast to be only about 1% in both 2011 and 2012. NI’s growth is likely to be just over half the UK rate at around 0.6%.

The extremely fragile economic recovery in NI reflects, in part, the very weak UK recovery, the difficulties in the RoI market and a lack of critical mass in the NI private sector.

Improved and sustained growth is likely to be based on a combination of exports and new foreign direct investment (FDI). Given the precarious position of both the eurozone and US economies, it is essential to raise the share of NI exports going to the most rapidly or emerging global economies, especially the BRICs.

View NI Economic Outlook November 2011 (PDF 349k)

Contact details
Email: Esmond Birnie
Tel: +44 (0)28 9041 5808