Abstract
This Commentary has never gained a reputation for taking an optimistic view of the
prospects for the Scottish economy. Unfortunately, its gloomier prognostications,
on the whole, have turned out to be accurate. Examination of the evidence in this paper suggests that there is no reason to expect any reversal of Scotland's
economic fortunes over the next six months. Unemployment will rise, output will
stagnate and living standards are likely to fall. The short-term effects of current government policy are also likely to deepen the recession.
prospects for the Scottish economy. Unfortunately, its gloomier prognostications,
on the whole, have turned out to be accurate. Examination of the evidence in this paper suggests that there is no reason to expect any reversal of Scotland's
economic fortunes over the next six months. Unemployment will rise, output will
stagnate and living standards are likely to fall. The short-term effects of current government policy are also likely to deepen the recession.
| Original language | English |
|---|---|
| Pages (from-to) | 5-24 |
| Number of pages | 20 |
| Journal | Quarterly Economic Commentary |
| Volume | 5 |
| Issue number | 3 |
| Publication status | Published - Jan 1980 |
Keywords
- Scottish economic performance
- Scottish industrial performance
- UK economy
- production
- Scottish gross domestic product (GDP)
- unemployment trends
- labour market conditions
- recession
