Northern Ireland's economy has emerged from recession, according to a new report by Northern Bank.
However the survey points out that while Northern Ireland has technically moved out of recession, economic activity levels are still weak.
According to the report, one of the contributory factors to the economic recovery has been the phenomenon of cross-border shopping.
A favourable exchange rate and lower prices have seen a surge of shoppers head north.
Last Friday, a survey by the Central Statistics Office estimated that around €435 million had been spent in cross-border shopping trips.
An economist for Northern Bank also cited monetary and fiscal intervention, improved consumer confidence and the seasonal impact on household demand for Northern Ireland’s move out of recession.
However - with growth next year forecast at a modest 1.2% - Northern Bank is cautioning against over optimism and warned of the risk of a slight dip in activity in the first three months of next year.
According to the bank, the public sector has been propping the North's economy up.
For long-term recovery it concluded that a strong export-orientated private sector was crucial.
