Economy

The UK economy is predicted to avoid a technical recession and a calendar year contraction in 2023, with an anticipated growth of 0.2%, according to the EY ITEM Club Spring Forecast. The improvement is attributed to better-than-expected GDP in Q4 2022 and the expected rapid easing of inflationary pr

In February, the UK experienced flat GDP growth, which fell short of expectations for an increase, however, January's GDP was revised upward, aligning February's output with predictions. Industrial action in the public sector negatively affected February's activity, while construction output rebound

Chancellor Jeremy Hunt's attempts to boost the UK economy have fallen short, as the IMF predicts a 0.3% contraction in 2023, leaving the UK near the bottom of the global league table.

The latest Scottish Chambers of Commerce (SCC) survey has reveals that while the beginning of 2023 brought relief to some sectors of the Scottish economy, cost pressures and inflation concerns continue to impede overall business growth. Many Scottish SMEs still report no improvement in sales, cashfl

Fraser of Allander Institute has forecast a -0.7% contraction in the Scottish economy in 2023, returning to 0.9% annual growth in 2024. Uncertainties have increased due to concerns in global financial system and persistently high inflation. Lack of clarity on annual impacts on Scottish Budget and UK

Scotland’s onshore GDP increased by 0.9% in January, according to statistics announced by the chief statistician.

Amid instability in the US and European banking systems and an unexpected jump in inflation to 10.4% during February, the Bank of England has announced another increase to the base interest rate to 4.25%.

Despite falling petrol prices having a positive effect on inflation, the consumer price index (CPI) unexpectedly jumped 0.3% to 10.4%.

Scotland's food and drink industry has achieved record high exports despite the impact of Brexit, according to HMRC trade statistics. The industry's global exports were worth £8 billion in 2022, a 30.6% increase from the previous year and 8.1% higher than the pre-pandemic peak in 2019.

In today's Spring Budget announcement, the Chancellor of the Exchequer, Jeremy Hunt, did not reveal many surprises as expected policies were confirmed. The Chancellor began his speech by noting that the UK economy will not enter a "technical recession this year" saying that “our plan is workin

As the Chancellor prepares his Spring Budget, new research has revealed the policy areas that Scottish mid-market business leaders hope to see prioritised. The Grant Thornton UK LLP’s latest Business Outlook Tracker found that incentives to support low carbon business strategies and incentives

GDP figures for January have shown a 0.3% increase month-on-month, recovering some of the ground lost in December when output fell by 0.5%. Experts have said the figures provide some "hope that the UK economy may finally be kicking into gear" after the economy stagnated and went into negative g

Scotland’s fish farms have delivered a £3.3 billion boost to the country’s economy over the last decade, official figures have revealed.

The Post Office generates an economic impact of £292 million, and has a particularly strong per capita impact originating from rural constituencies in Scotland such as Ross, Skye and Lochaber, and Argyll and Bute, according to a new independent report by London Economics.

The Scottish Government has voted to provide an additional £223 million to local authorities to support pay awards to staff as part of the 2023-24 Scottish Budget. Deputy First Minister John Swinney said an improving financial position enabled him to address some pressing asks. The extra money