Economy

Economic and business conditions and expectations were weak at the end of 2024, leading to challenges to finding the pathway to growth in 2025, according to the Fraser of Allander Institute. Despite this, the institute's latest quarterly economic assessment reveals current expectations are that grow

The UK has come ahead of Germany, China, and India to become the second most attractive country for global investment, trailing only the US, according to PwC's annual UK CEO survey. This marks a significant leap from the UK's fourth-place ranking last year and is seen as a major endorsement of the c

The FTSE 100 index surged to a new record high of 8480.36 points in early trading, surpassing its previous intraday high set in May 2023. This three-day rally was fuelled by a surprise drop in UK inflation, bolstering expectations of more interest rate cuts by the Bank of England later this year.

North Lanarkshire enters 2025 on a strong footing following a year of positive business performance in the local economy. There was a £2.21 billion increase in turnover by North Lanarkshire businesses in the year to 31 March 2024 with the number of registered businesses increasing by 60 in 202

The UK economy showed meagre growth of 0.1% in November, following a decline in the previous month.

UK inflation unexpectedly dropped to 2.5% in December, down from 2.6% in November, boosting prospects for an interest rate cut by the Bank of England next month. The decline, driven by lower hotel and tobacco prices, surprised City economists who had anticipated unchanged inflation figures.

The pound plummeted to a 14-month low against the dollar on Monday, driven by a global market downturn sparked by expectations of a single interest rate cut from the US Federal Reserve this year. Sterling fell as much as 0.7% to $1.211, underperforming other major currencies.

Chief financial officers (CFOs) are prioritising cost reduction in the face of falling business optimism, which has reached a two-year low in Q4, according to Deloitte. The Big Four firm's latest survey of UK CFOs has shows that a net 26% of CFOs are feeling more pessimistic about their business pro

Scottish retail sales experienced a slight uptick in December 2024, with a 0.8% increase compared to December 2023, when sales grew by 1.9%.

The Scottish economy shrank slightly in October, according to the latest GDP estimates. Scotland’s onshore GDP is estimated to have contracted by 0.2% in October, following unrevised 0.3% growth in September.

Scotland's labour market remained relatively stable from August to October 2024 despite economic challenges, ONS figures have revealed. In this period, the employment rate was down 0.4%, reaching 73.2% – slightly lower than the UK rate of 74.9%. However, Scotland's unemployment rate of 3.6% wa

The UK economy unexpectedly contracted by 0.1% in October, marking the second consecutive month of decline. The downturn raises concerns about the Labour government's ability to achieve its growth targets.

The EY ITEM Club has predicted the Bank of England will maintain the Bank Rate at 4.75% at its December Monetary Policy Committee (MPC) meeting next week. This pause in the rate-cutting cycle is anticipated to be temporary, with the EY ITEM Club expecting a return to rate reductions in the new year,

Short-term lets (STLs) contribute positively to Scotland's economy, generating almost £1 billion in gross value added (GVA) and supporting nearly 30,000 jobs, according to BiGGAR Economics. BiGGAR's analysis claims the economic impact of Scotland’s self-catering industry has a negligible

Scotland's private sector maintained growth in November 2024, driven by the service sector, although manufacturing output continued to contract, according to RBS. The Scotland Business Activity Index remained above 50, with a reading of 51.1, indicating expansion, but eased slightly from October's r