Weak Northern economy set to drive shoppers south

Cross-border shopping patterns are set to switch from a south-north trend to a north-south one as the retail industry becomes the latest area to be squeezed by the contracting private sector economy in the North.

Ulster Bank’s latest Northern Ireland PMI (purchasing managers’ index), published yesterday, illustrates a tough start to 2015 for the North’s economy, with output, new orders and employment all falling.

Furthermore, the latest reduction in business activity, for January, the strongest seen since the end of 2012.