With the continuation of a policy of high interest rates as a method of reducing consumer demand, Scotland continues to show clear signs of outperforming the UK. Confidence in manufacturing, and especially in retailing, has recovered over recent months because the expected downturn has failed to become reality as quickly as had been expected. The UK economy remains more resilient to high interest rates than expected by the Government, and increasingly worries about recession are giving way to concerns over the underlying rate of inflation.
|Number of pages||2|
|Journal||Quarterly Economic Commentary|
|Publication status||Published - Jun 1990|
- economic forecasts
- Scottish economic trends
- labour market conditions
- industrial output