The latest Infometrics forecast is suggesting the range of pressures currently faced by businesses and households, could easily result in more of a slowdown in economic growth.
Chief Forecaster Gareth Kiernan is highlighting a plethora of risks.
He said some of them stem from international events such as the ongoing trade war between the US and China.
"A lot of them imitating a bit closer to home from the likes of higher petrol prices to a downbeat business community which is affecting employment and investment potential."
He said one of the biggest pressures on business is declining profitability.
"We are seeing businesses who are unwilling or unable, in some cases, to put up prices and as a result profitability is being squeezed pretty hard and that is impacting on the willingness to go ahead with more investment or more hiring."
LISTEN ABOVE AS GARETH KIERNAN SPEAKS WITH MIKE YARDLEYÂ
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