Northern Ireland

PWC predicts more gloomy news for NI economy

PricewaterhouseCoopers have downgraded the figure that they think Northern Ireland's economy will grow by.

In their latest economic outlook they think the figure will be just 0.6%. The figure for the UK economy as a whole is currently projected at 1%.

PWC's Esmond Birnie said Northern Ireland was closer to recession because of exposure to the Irish Republic.

Last quarter's report also lowered the projected growth figure, as the hoped-for recovery failed to materialise.

Mr Birnie said: "We're being pulled down, as it were, by the very great recession that's happened in the Republic over the last couple of years."

The projected figure for 2012 is set to remain at the low level of 0.6%.

PWC said the best potential area for growing the economy was to raise the share of Northern Ireland exports focussed on developing economies, rather than less stable eurozone economies.

To hear the full interview with Esmond Birnie listen to the NI Business News podcast.

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