Northern Ireland's economy will shrink by a "staggering" 7.5% this year, one of the its main banks has predicted. Danske Bank reiterated warnings of a "sharp" decline in growth as social distancing restrictions prompted lower consumer spending and business investment dropped.
The forecasts were based on the assumption that the lockdown in Northern Ireland remains in place until somewhere between the end of May and the middle of June before gradually being lifted, with some social distancing measures expected to remain for a longer period.
Danske Bank chief economist Conor Lambe said: "Unfortunately it seems clear that we will experience a staggering decline in economic activity in Northern Ireland this year due to the impact of the