The Scottish economy continues to grow quite quickly compared to trend with growth of 2.3% anticipated for 2006. This buoyant growth occurs against a background of strong growth in the UK with GDP rising by 2.7% last year. Despite uncertainties over the US economy, rising oil prices in the short-run due to political uncertainties in the Middle East and some pick up in the UK inflation rate, which may prompt a further rise in UK interest rates to 5.5%, above trend growth is expected to continue in Scotland in 2007 and 2008.
|Number of pages||8|
|Journal||Quarterly Economic Commentary|
|Publication status||Published - Apr 2007|
- Fraser of Allander Institute
- Scottish economy
- Scottish economic outlook