Northern Ireland economy set to continue growth

PricewaterhouseCoopers (PwC) have said they expect Northern Ireland's economy to continue to grow in 2002 but warned of complacency about the local economy.

The global business advisers made the statement as they released their UK Economic Outlook and Regional Trends survey published on Tuesday February 26.

The survey revealed that Northern Ireland's economy is expected to grow at a rate of almost two per cent during 2002.

PwC said that economic growth in the province was expected to match that in the rest of the UK during 2002 and local unemployment had reached its lowest level since 1975.

The province's construction, retailers, business and financial services providers were also reporting continued growth. But despite trading difficulties in some sectors, growth would be assured unless there was a sudden downturn in global economic performance.

The PwC report also forecast that the Irish economy would recover strongly in 2003 to become the world's third fastest-growing economy, after China and South Korea. (MB)