Northern Ireland's economy will grow by 0.7% this year, according to consultancy EY. Higher energy costs affect businesses and consumers.

EY managing partner Rob Heron in Northern Ireland stated the economy shows resilience but faces constraints from global volatility that influences costs, confidence and investment.

Early this year business surveys indicated private sector activity expansion in Northern Ireland.

Heating oil prices rose 92% in March. Two thirds of Northern Ireland households rely on home heating oil.

The projection aligns with forecasts from Ulster University of under 1% growth this year.

EY cited the US-Israeli war on Iran as adding cost pressures and uncertainty.