Outlook and appraisal [February 2009]

Brian Ashcroft

Outlook and appraisal [February 2009]

Brian Ashcroft

Economics

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Abstract

Since we last reported in October there has been a considerable deterioration in the actual and forecast performance of all the major economies. In October we considered there was a ‘high probability’ that Scotland would go into recession in 2009. Now, we are certain that not only is Scotland currently in recession but that the recession looks likely to be as severe as that in the 1980s and could even be worse.

Original language	English
Pages (from-to)	4-17
Number of pages	14
Journal	Fraser of Allander Economic Commentary
Volume	32
Issue number	3
Publication status	Published - Feb 2009

Keywords

Fraser of Allander Institute
Scottish economy
economic outlook
recession

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abstract = "Since we last reported in October there has been a considerable deterioration in the actual and forecast performance of all the major economies. In October we considered there was a {\textquoteleft}high probability{\textquoteright} that Scotland would go into recession in 2009. Now, we are certain that not only is Scotland currently in recession but that the recession looks likely to be as severe as that in the 1980s and could even be worse.",

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AB - Since we last reported in October there has been a considerable deterioration in the actual and forecast performance of all the major economies. In October we considered there was a ‘high probability’ that Scotland would go into recession in 2009. Now, we are certain that not only is Scotland currently in recession but that the recession looks likely to be as severe as that in the 1980s and could even be worse.

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KW - economic outlook

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