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Northern Ireland's economy is still rocky but it's set to grow by 2%

By Margaret Canning

Published 05/06/2015

The Bank of England is asking the public to suggest a historic visual artist to be the new face of the £20 note
The Bank of England is asking the public to suggest a historic visual artist to be the new face of the £20 note

Northern Ireland's economy will grow by nearly 2% in 2015 but there remains challenges to overcome, the Department of Enterprise, Trade and Investment (DETI) has announced.

DETI's economic commentary, which is issued twice a year, yesterday said Northern Ireland's private sector was growing and consumer activity was "strong".

But it added that, because growth was volatile and the strength of the pound was causing problems for exporters, there were difficulties around the corner.

On top of that, cuts are looming in the public sector, which was described as already "stagnant".

The DETI forecast growth of 1.9% in 2015 but said that analysis of performance over recent quarters showed a mixed picture.

Growth in the 12 months up to the third quarter of 2014 was driven by growth during just one three-month period. For the remaining three-quarters, growth was flat in two of them and negative in the other.

Activity was recorded as currently being 1.7% above the low reached during 2012, but was still 10% below its 2007 high point.

Belfast Telegraph

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