The Northern Ireland economy is likely to grow at only a “minimal” rate next year or, in a worst-case scenario, fall into a “negative growth” position, according to latest forecasts.

PricewaterhouseCoopers (PwC) projects that economic growth across the UK will show only a modest recovery next year. However its UK Economic Outlook published today warns that Northern Ireland will probably experience the lowest growth among all 12 UK regions this year and next.

The latest report projects UK- wide GDP growth of about zero in 2012, although this will pick up later in the year and rise to about 1.7 per cent in 2013.

The North has a more depressed outlook due to a local flat housing market and difficult export market conditions.