The NI economy is predicted to outperform other UK regions, but do the worst in employment growth.
Northern Ireland's economy is forecast to be one of the better performing UK regions in the next few years.The forecast from the National Institute for Economic and Social Research assumes that the economy starts to "reorganise" due to the Northern Ireland Protocol.However, it also thinks jobs will be lost in lower productivity industries, which will not be fully replaced by more productive industries.
It added that "the structure of the Northern Irish economy is undergoing change, with its traded sector becoming comparatively more prominent".keeps Northern Ireland inside the European Union 's single market for goods, which means that, unlike the rest of the UK, it continues to have access to the EU single market.
NIESR forecasts that the output of the local economy will be 1.5% above its pre-pandemic level by the end of this year. By the end of 2024, Northern Ireland output is forecast to be 3.3% above the pre-pandemic level, on a par with Wales and behind London and the North of England .
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