The depreciation in the value of sterling could provide much needed relief for key sectors of the Northern Ireland economy in 2009, according to officially commissioned forecasts.
Retail, manufacturing and agriculture could be the main beneficiaries from the reduction in the value of sterling, particularly against the euro, according to new economic forecasts compiled for the North’s Department of Enterprise, Trade and Investment.
The research, carried out by consultants Oxford Economics, suggests the decline in sterling will help firms operating in the manufacturing and agricultural sectors become more competitive.
If one puts it another way, it means that without the recent slump in sterling those sectors mentioned would be in a right pickle.
