Northern Ireland least hit by recession says PwC
Unemployment below UK average
Northern Ireland will be impacted least of all UK regions during the
recession, according to PricewaterhouseCoopers.
PwC says the province’s economy is likely to go backwards by three per cent,
but unemployment will not climb as high as in other parts of Britain.
Its report points out that unemployment, at five per cent, is still well
below the broader UK average of 6.3 per cent. It notes that its recent decline
in house prices – which plunged 34 per cent in 2008 – shows signs of abating
Northern Ireland has benefitted from a decline in the Sterling against the
Euro, which has boosted sales to consumers from the Republic.