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Lloyds TSB: Scottish economy still growing
29/03/2007
Scotland's economy continues to grow, according to March's Lloyds TSB Scotland business monitor.
The research shows that 47 per cent of firms in Scotland reported an increase in turnover during the three months up to February 2007, while 34 per cent experienced static earnings.
Some 19 per cent of firms indicated a decrease in revenue, meaning that the net balance is three times more than it was at the corresponding time last year.
Professor Donald MacRae, chief economist at Lloyds TSB Scotland, remarks: "The Scottish economy continues to grow above its trend rate whilst expectations for future growth have risen to their second highest level in nine years.
"Despite recent increases, both the rates of interest and inflation remain at historically low levels."
He added that consumer confidence is high, which is partly due to "record levels of employment" in the country.
The research shows that 47 per cent of firms in Scotland reported an increase in turnover during the three months up to February 2007, while 34 per cent experienced static earnings.
Some 19 per cent of firms indicated a decrease in revenue, meaning that the net balance is three times more than it was at the corresponding time last year.
Professor Donald MacRae, chief economist at Lloyds TSB Scotland, remarks: "The Scottish economy continues to grow above its trend rate whilst expectations for future growth have risen to their second highest level in nine years.
"Despite recent increases, both the rates of interest and inflation remain at historically low levels."
He added that consumer confidence is high, which is partly due to "record levels of employment" in the country.