Outlook and appraisal [June 2013]

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Abstract

Clearer signs of a recovery are now emerging within the Scottish economy. This is to be welcomed. But despite the recent good survey evidence the recovery is far weaker than would be expected 5 years after a recession, even a recession generated by a banking crisis. The reason for this stagnation and anaemic recovery is twofold: the UK government's fiscal consolidation programme and a weak export performance reflecting both supply-side structural problems in the UK and Scottish economies as well as weak global demand. [This section appraises the current state of Scottish economic performance and explores the economic outlook.]
Original languageEnglish
Pages (from-to)3-23
Number of pages21
JournalFraser of Allander Economic Commentary
Volume37
Issue number1
Publication statusPublished - Jun 2013

Keywords

  • Scottish economic performance
  • GDP performance
  • labour market conditions

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