The speed of economic recovery in the UK has taken many by surprise. First the good news. Employment is up. Retail sales are up and business investment is expanding. This is good news for exporters in the Republic of Ireland especially those in sectors such as agri-food where, traditionally, the UK market has been an important destination. It is also good news for Northern Ireland where, even if timely data are lacking, it appears that output and employment are on the rise. See Section 2.3 of the latest NERI Quarterly Economic Observer . It also appears that many households are drawing on savings to spend a bit more in shops and local economies.