Review of Scottish business surveys [November 2014]

Business surveys are a useful tool to provide accurate and timely data and are extremely helpful in pinpointing subtle movements in the economy. Recent Scottish business surveys paint a broadly positive picture, albeit perhaps slightly subdued compared to surveys from the start of 2014. They continue to indicate that growth in output and jobs remains robust and many trends remain broadly favourable, although early indications are that the pace of recovery may be slowing and that some vulnerability may remain. Many business surveys use net balances, determined by subtracting the percentage reporting declines from the percentages reporting increases, and a number of recent surveys show more and more businesses reporting that trends have ‘remained constant’ indicating a degree of stability, although the pace of recovery is slowing somewhat.