Abstract
The latest official release of the seasonally adjusted output index for Scottish production industries (Divisions 1 to 4 of the 1980 SIC) shows a marked increase (4.7%) in the final quarter over the previous quarter last year. This increase is due
largely to a dramatic 30% increase in the output of the electrical and instrument engineering industries in the final quarter. However, considering the overall performance of the UK manufacturing industry (including the electrical and instrument engineering industries which experienced a more modest growth of 3% in the same period), and given all the information contained in various business surveys, such a substantial increase in Scottish production output should, we think, be treated with caution.
largely to a dramatic 30% increase in the output of the electrical and instrument engineering industries in the final quarter. However, considering the overall performance of the UK manufacturing industry (including the electrical and instrument engineering industries which experienced a more modest growth of 3% in the same period), and given all the information contained in various business surveys, such a substantial increase in Scottish production output should, we think, be treated with caution.
Original language | English |
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Pages (from-to) | 10-51 |
Number of pages | 43 |
Journal | Quarterly Economic Commentary |
Volume | 18 |
Issue number | 4 |
Publication status | Published - Jun 1993 |
Keywords
- Scottish economic trends
- economic forecasts
- Scottish economic output
- Scottish gross domestic product (GDP)
- European economy
- industrial output
- unemployment patterns
- labour market trends
- Scottish Chambers' Business Survey
- business confidence