Review of Scottish business surveys [June 2010]

Cliff Lockyer, Eleanor Malloy

Research output: Contribution to journalArticle

Abstract

Interpreting business survey trends, especially those relating to the service sector, have been more problematic that normal, given the change to VAT rates at the beginning of 2010, an unduly harsh winter, the ending of the car ‘scrappage’ scheme, travel and related dislocation due to the Icelandic volcano eruption and rising petrol prices. In contrast almost all surveys (the quarterly Scottish Chambers, Scottish Engineering, Confederation of British Industries and monthly Bank of Scotland PMI surveys) have reported rising confidence, activity and exports in Scottish manufacturing. Data for May 2010 (Bank of Scotland PMI report and Leading Indicators Report) suggests a slight acceleration of the recovery in the private sector with both output and new business growth in both manufacturing and the service sectors.
Original languageEnglish
Pages (from-to)32-36
Number of pages5
JournalFraser of Allander Economic Commentary
Volume34
Issue number6
Publication statusPublished - Jun 2010

Keywords

  • Fraser of Allander institute
  • Scottish business surveys
  • Scottish economy

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