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14/01/2010
Accounting NI's Economic Performance
It has emerged today that new research carried out among accountants indicates that the recession has a long time still to run.
The construction and manufacturing sectors continue to bear the brunt of the ongoing down-turn.
A survey of some 500 top number crunchers claims the Northern Ireland economy is set for a prolonged period of poor economic performance.
Over half of those surveyed for the NI section of Chartered Accountants Ireland rated the economy's prospects as poor or worse with just 7% optimistic about performance in the year ahead.
The research included accountants in private practice, industry and the public sector.
It showed availability of finance and a lack of capital was a major concern, with almost all those who replied stressing the difficulties in accessing finance as a key issue for their own business or for their clients' businesses.
Pessimism around economic recovery in the short term was most keenly expressed among exporters, small firms and those in the manufacturing and construction areas.
A review of public sector pay and a general reduction across all departmental budgets was considered essential. However those surveyed said budgets for innovation, export promotion and research and development should be protected.
The news has been revealed on today's BBC NI wesbite.
(BMcC/GK)
The construction and manufacturing sectors continue to bear the brunt of the ongoing down-turn.
A survey of some 500 top number crunchers claims the Northern Ireland economy is set for a prolonged period of poor economic performance.
Over half of those surveyed for the NI section of Chartered Accountants Ireland rated the economy's prospects as poor or worse with just 7% optimistic about performance in the year ahead.
The research included accountants in private practice, industry and the public sector.
It showed availability of finance and a lack of capital was a major concern, with almost all those who replied stressing the difficulties in accessing finance as a key issue for their own business or for their clients' businesses.
Pessimism around economic recovery in the short term was most keenly expressed among exporters, small firms and those in the manufacturing and construction areas.
A review of public sector pay and a general reduction across all departmental budgets was considered essential. However those surveyed said budgets for innovation, export promotion and research and development should be protected.
The news has been revealed on today's BBC NI wesbite.
(BMcC/GK)
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