Tag: Severe

Coronavirus: Conor Murphy says NI facing very severe recession

Image copyright Getty Images Northern Ireland faces a “very severe” recession following the coronavirus crisis, Finance Minister Conor Murphy has warned. Mr Murphy said the post-pandemic landscape would feature “major challenges”. Northern Ireland has taken its initial steps out of lockdown, with the reopening of garden centres, churches for private prayer, and golf courses. However, many businesses will not be… Read more →

Coronavirus: ‘Severe contraction’ in NI economy in April

Image copyright Getty Images The Northern Ireland’s private sector suffered a “severe contraction” in April, Ulster Bank’s chief economist has said. Richard Ramsey’s comments came as the bank’s monthly survey saw the steepest ever monthly fall in business activity. Since 2002, the bank has conducted a monthly survey of a representative sample of firms. The April survey showed activity collapsing,… Read more →