Business And Leadership, Ireland's Business News Service
Dublin: 03.09.2010 10:29 AM
RSS

Business News

Glenisk: Winning with organic food
Gerard Cleary of Glenisk, winners of the SFA National Small Business Awards 2010 talks about the growth of the Offaly-based company
NI economy out of recession, says Northern Bank report

Also in this section

 

Leadership

NI economy out of recession, says Northern Bank report

07.12.2009
The Northern Ireland economy has exited recession and returned to growth, according to a new report from Northern Bank.

According to its latest Quarterly Sectoral Forecasts, authored by economist at Northern Bank Angela McGowan and published today, economic growth will return to NI by the end of the year.

According to the report, a major driver for the economy’s return to growth is cross-border shopping from Southern shoppers.

A report from the Central Statistics Office (CSO) released last Friday revealed that Irish households spent a total of €435m on cross-border shopping in the 12 months to July 2009.

The bank’s report also points to monetary and fiscal intervention, improved consumer confidence, a favourable exchange rate and the seasonal impact of household demand as drivers for economic growth.  

The report says that modest growth of 1.2pc will return to the NI economy by the end of the year,

However, Northern Bank cautions on an over-optimistic reading of its report, saying that while the NI economy may have technically emerged from recession, overall levels of economic activity are still weak.

It is also predicting a slight dip in economic growth in the first quarter of next year.

A report from Ulster Bank on the NI economy published last week predicted that while NI will soon emerge from recession, returning to the heights scaled by the 2007 economy will take years.

 

Events Calendar

<< < September 2010 > >>
Sun Mon Tue Wed Thu Fri Sat
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30
 
 

Top Reports

Leadership Magazines

Irish Director Magazine Cover

Irish Director

Irish Director is the definitive magazine for leaders and senior decision makers in Ireland. Produced in association more..
Owner Manager Magazine Cover

Owner Manager

Owner Manager is the latest title from the BusinessandLeadership.com stable. It is the only magazine in Ireland to more..
Marketing Age Magazine Cover

Marketing Age

Marketing Age is the definitive voice of the marketing industry in Ireland. Aimed at decision makers, marketing more..
Knowledge Ireland Magazine Cover

Knowledge Ireland

Knowledge Ireland is a ground-breaking quarterly magazine from our sister brand siliconrepublic.com, unique in its more..

Site design by Whitespace Publishing. Web development and hosting by Tibus Ireland | powered by HandsOn