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Birmingham Post
Birmingham Post
Business
David Elliott

Northern Ireland economy to contract this year before returning to growth in 2024 - Danske Bank

The Northern Ireland economy will contract this year but continues to show signs of resilience and will return to growth in 2024.

That is according to Danske Bank which is more confident for economic performance in the rest of this year, revising up an expected contraction to just 0.3% from 1% previously.

Its Northern Ireland Quarterly Sectoral Forecasts said the wider economy has weathered the challenges from high inflation and rising interest rates better than expected, with the labour market in particular putting in a robust performance.

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