Review of Scottish business surveys [November 2012]

Cliff Lockyer, Eleanor Malloy

Research output: Contribution to journalArticle

Abstract

A wider sense of despondency was evident amongst business surveys commenting on the third quarter results, with the exception of the oil and gas sector, the emphasis was on a weakening economy, with weak consumer demand, output down in construction, declining export activity and more concerns as to activity over the year ahead. Both the latest Scottish Chambers Business (Q3) and Lloyds TSB Business Monitor survey (Q3 to August) commented on the 'stagnating' Scottish economy. The Bank of Scotland PMI (September data) noted a decline in private sector output, reflecting a declining trend in new work, a reduction in backlogs and accelerating input price inflation due to rising fuel and commodity prices. The CBI data for Q3 similarly noted a decline in both new orders and output. Declining trends in export orders and Eurozone uncertainties were seen as contributing to a decline in orders was reported by Scottish Engineering (Q3).
LanguageEnglish
Pages30-34
Number of pages5
JournalFraser of Allander Economic Commentary
Volume36
Issue number2
Publication statusPublished - Nov 2012

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Business survey
Euro zone
Commodity prices
Oil
Consumer demand
Fuel price
Private sector
Gas
Input prices
Scotland
Uncertainty
Inflation

Keywords

  • Scottish economy
  • Scottish business activity

Cite this

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Review of Scottish business surveys [November 2012]. / Lockyer, Cliff; Malloy, Eleanor.

In: Fraser of Allander Economic Commentary, Vol. 36, No. 2, 11.2012, p. 30-34.

Research output: Contribution to journalArticle

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