CONFIDENCE in the Northern Ireland economy among businessmen has plunged, according to a CBI survey published yesterday. The organisation said businessmen were increasingly worried about the political situation in the North.
The survey, taken over the last two weeks of December and first two days of 1997 - as IRA activity increased - showed a 25 per cent drop in confidence in the local economy compared with two months ago. It was clear that uncertainty about the political situation in the province rather than economic indicators was to blame for the pessimism.
Companies responding to the survey reported market demand up 12 per cent in Northern Ireland up 17 per cent in Britain and up 23 per cent in the Republic. Export demand was still positive.
The number of people employed continues to increase overall, but again this was due to the service sector.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)