The Scottish economy is set to recover to pre-pandemic levels three months earlier than previously thought. This is according to the latest quarterly Economic Commentary from the Fraser of Allander Institute, which predicts growth of 6.5% in 2021 and 4.8% in 2022. The economy is now predicted to get back to pre-pandemic levels in April 2022. Despite growth contracting slightly in July, mainly due to a fall in renewable electricity production, growth was significantly faster during Q2 than expected, leading to forecasts for 2021 and 2022 being revised up. In the Deloitte-sponsored Economic commentary, the University of Strathclyde research institute discusses a number of risks that threaten recovery.
|Number of pages||44|
|Journal||Fraser of Allander Economic Commentary|
|Publication status||Published - 30 Sept 2021|
- labour market trends
- Scottish economics
- economic forecasting