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Ongoing global economic uncertainty and increased business taxation have led Danske Bank to revise Northern Ireland's growth forecast for 2025 down to 0.9%, from a previous estimate of 1.4%. Inflation is expected to average 3.2% this year, potentially impacting household purchasing power and economic activity. The unemployment rate is projected to average around 2% this year, rising to 2.4% by 2026, while job growth is expected to slow to 0.5% this year before slightly increasing in 2026.
Danske Bank has revised its economic growth forecast for Northern Ireland to 0.9% for 2025, down from 1.4%, citing inflation, higher business taxes, and global uncertainties. While modest growth is expected this year, sectors like professional services may see stronger performance, with a projected increase in jobs, though risks remain regarding inflation and consumer spending power.
Danske Bank has revised its growth forecast for Northern Ireland, expecting a modest 0.9% growth this year, down from 1.4%, due to inflation, higher business taxes, and global uncertainties. The economy is projected to grow by 1.4% in 2026, with sectors like professional services and information & communication showing stronger growth. Inflation is anticipated to average 3.2% this year, potentially impacting consumer spending and economic momentum.
Danske Bank has revised its growth forecast for Northern Ireland, expecting a modest 0.9% increase in 2025, down from 1.4%, due to inflation, higher business taxes, and global uncertainties. The professional, scientific, and technical services sector is projected to grow by 1.6% in 2025, while overall economic momentum remains weak, with inflation risks potentially impacting consumer spending and investment. Unemployment is anticipated to average 2.0% in 2025, with job growth slowing to 0.5% this year.
Conor Lambe
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
northern ireland growth forecast lowered amid global economic uncertainty and inflation
16:12 20.03.2025
northern ireland economic growth forecast lowered amid inflation and global uncertainties
13:46 20.03.2025
danske bank revises northern ireland growth forecast amid inflation and global concerns
13:47 19.03.2025
danske bank revises northern ireland growth forecast amid economic challenges
07:00 19.03.2025
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