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14/10/2013
NI Economic Growth Level Raised
The level of economic growth expected for Northern Ireland in 2013 has been raised from 0.2% to 0.5%, with growth of 1.8% predicted for 2014.
The announcement was made today by the Department of Enterprise, Trade and Investment (DETI) following the publication of the latest edition of its Economic Commentary, which examines economic trends and provides an assessment of local economic conditions.
The figures also show unemployment may have peaked in 2012 rather than 2014, as initially suspected.
Enterprise Minister Arlene Foster commented: "Across the world, economies are beginning to post positive growth and we in Northern Ireland are beginning to see such signs as well. Whilst the Northern Ireland economy has been more severely impacted compared with elsewhere in the UK, we are now seeing encouraging trends from a range of labour market indicators, businesses now reporting increased activity, house prices potentially levelling off and positive growth in exports."
But the Minister added: "While there are positive signs that Northern Ireland’s economy is improving this is not a time for complacency. There is still much to be done. That is why I intend to take every advantage of the opportunities presented to me in 2013 to promote Northern Ireland as a place to visit and a place to do business.
"The successful G8 Summit and the follow up investment conference have both provided the opportunity to positively promote Northern Ireland on a global stage. The inward investment announced at the conference will provide new job opportunities as well as providing a direct boost to local businesses able to feed into these new businesses."
(IT/CD)
The announcement was made today by the Department of Enterprise, Trade and Investment (DETI) following the publication of the latest edition of its Economic Commentary, which examines economic trends and provides an assessment of local economic conditions.
The figures also show unemployment may have peaked in 2012 rather than 2014, as initially suspected.
Enterprise Minister Arlene Foster commented: "Across the world, economies are beginning to post positive growth and we in Northern Ireland are beginning to see such signs as well. Whilst the Northern Ireland economy has been more severely impacted compared with elsewhere in the UK, we are now seeing encouraging trends from a range of labour market indicators, businesses now reporting increased activity, house prices potentially levelling off and positive growth in exports."
But the Minister added: "While there are positive signs that Northern Ireland’s economy is improving this is not a time for complacency. There is still much to be done. That is why I intend to take every advantage of the opportunities presented to me in 2013 to promote Northern Ireland as a place to visit and a place to do business.
"The successful G8 Summit and the follow up investment conference have both provided the opportunity to positively promote Northern Ireland on a global stage. The inward investment announced at the conference will provide new job opportunities as well as providing a direct boost to local businesses able to feed into these new businesses."
(IT/CD)
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Northern Ireland WeatherToday:A very mild, but mostly cloudy day, although with some bright or sunny spells. It will be mostly dry in the morning, but a little patchy light rain or drizzle at times in the afternoon. Maximum temperature 14 °C.Tonight:A band of heavier rain will move east during the evening before clearing eastwards after midnight. then mostly dry through the early hours, but a little rain towards dawn. Minimum temperature 8 °C.
