Commenting on the figures, Danske Bank Economist Conor Lambe said:
“The Northern Ireland Composite Economic Index data published today suggests that the local economy bounced back from a poor Q3 with a strong finish to 2016.
“The overall index showed quarterly growth of 2.1 per cent, and year-on-year growth of 2.9 per cent in 2016 Q4. These are the fastest growth rates observed in the index over the last 10 years.
“The latest reading also shows the Composite Economic Index at 105.3, which is as high as it has been since the last quarter of 2009.
“Despite this good news, the index remains 5.1 per cent below its highest reading from the second quarter of 2007. With headwinds on the horizon for the local economy, including a squeeze in consumer spending and high levels of uncertainty acting as a drag on business investment, we will likely have to wait a bit longer than we had previously hoped for the Northern Ireland economy to break through that pre-financial crisis barrier.”
This comment was published in response to the 2016 Q4 Northern Ireland Composite Economic Index published by NISRA on 13th April 2017.