Forecasts of the Scottish economy [March 2014]

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Abstract

This section provides an overview of recent changes in the drivers of economic activity in Scotland and provides the detailed forecasts for the Scottish economy to 2015 on key economic variables of GDP, employment and unemployment. In line with improving economic data and surveys of activity at the start of 2014, we are cautiously encouraged by the short term outlook for growth to 2015. As previously, we caution about the unbalanced nature of economic growth based upon consumption spending growth –
when income growth is weak and part of the consumption growth comes as households reduce their savings rather than paying down debt levels. This has implications for the “balance”, robustness and speed of recovery in the Scottish economy.
Original languageEnglish
Pages (from-to)24-35
Number of pages12
JournalFraser of Allander Economic Commentary
Volume37
Issue number3
Publication statusPublished - 13 Mar 2014

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Consumption growth
Debt
Scotland
Household
Savings
Economic variables
Economic data
Unemployment
Economic activity
Economic growth
Robustness
Income growth

Keywords

  • Fraser of Allander Institute
  • Scottish economy
  • Scottish economic forecasts

Cite this

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Forecasts of the Scottish economy [March 2014]. / Allan, Grant.

In: Fraser of Allander Economic Commentary, Vol. 37, No. 3, 13.03.2014, p. 24-35.

Research output: Contribution to journalArticle

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