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12/08/2013
Scotland Shows Signs Of Economic Recovery
Scotland has started to show signs of economic recovery in 2013, according to the Scottish Government.
A new report published today said the country's economy is "gaining momentum."
The 'State of the Economy' report cites improvements "in both output growth and employment in Scotland's economy over the last year".
Chief Economist Dr Gary Gillespie described "a more positive environment for Scotland and its key trading partners, which can support a more sustained pick-up in investment, exports and growth."
The report's key findings include:
Finance Secretary John Swinney said: "Though headwinds still remain, the general outlook for Scotland is of an improving picture through 2013 with the recovery strengthening in 2014.
"Recent economic indicators have seen Scotland outperforming the UK both in terms of output and with higher rates of employment and lower rates of unemployment and inactivity. The most recent GDP data shows that the Scottish economy grew by 1.2% over the year to Q1 2013 compared to 0.3% in the UK.
"Today's report confirms these positive trends. This analysis suggests that the global economic outlook will continue to improve this year and Scotland can make the most of the opportunities that will come our way as a result."
(IT/JP)
A new report published today said the country's economy is "gaining momentum."
The 'State of the Economy' report cites improvements "in both output growth and employment in Scotland's economy over the last year".
Chief Economist Dr Gary Gillespie described "a more positive environment for Scotland and its key trading partners, which can support a more sustained pick-up in investment, exports and growth."
The report's key findings include:
- signs of a "global recovery" starting to take root in 2013
- growth in output and a general improvement in all headline labour market indicators
- a rise in output per hour worked to 3.5% above pre-recession levels
- signs of a return to pre-recession levels in 2014 across the economy as a whole.
Finance Secretary John Swinney said: "Though headwinds still remain, the general outlook for Scotland is of an improving picture through 2013 with the recovery strengthening in 2014.
"Recent economic indicators have seen Scotland outperforming the UK both in terms of output and with higher rates of employment and lower rates of unemployment and inactivity. The most recent GDP data shows that the Scottish economy grew by 1.2% over the year to Q1 2013 compared to 0.3% in the UK.
"Today's report confirms these positive trends. This analysis suggests that the global economic outlook will continue to improve this year and Scotland can make the most of the opportunities that will come our way as a result."
(IT/JP)
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