Economy

Scottish shopper numbers rose slightly in September, but this hasn't translated into increased sales, according to the Scottish Retail Consortium (SRC).

The pound sterling experienced its sharpest decline against the dollar since March, falling over 1% after Bank of England (BoE) Governor Andrew Bailey suggested the possibility of accelerated interest rate cuts. Speaking to The Guardian Governor Bailey indicated that the BoE could adopt a "more aggr

A new report has revealed how significant challenges, including skills shortages and an ageing population, pose a risk to Scotland’s economy. The Skills for Today and Tomorrow thought leadership report conducted by the Fraser of Allander Institute (FAI) on behalf of international law firm CMS,

The UK economy grew by 0.5% in the second quarter of 2024, slightly less than initial estimates of 6%, according to the Office for National Statistics. Despite the slowdown, there are signs of improvement, including a rise in the household saving ratio and GDP per head.

Business confidence in Scotland fell by 16 points to 48% in September, according to the Bank of Scotland's Business Barometer. Companies in Scotland reported lower confidence in their own business prospects month-on-month, down 19 points at 47%. When taken alongside their optimism in the economy, wh

The OECD has significantly upgraded its UK economic growth forecast for 2024, now predicting a 1.1% expansion. This marks the largest upward revision among G7 nations and places the UK alongside France and Canada for growth. However, the OECD also warns of persistent inflationary pressures, with cor

Scotland's economy saw modest growth of 0.3% in July 2024, outperforming the stagnant UK economy. This follows a revised 0% growth (up from -0.3%) in June, contributing to a 0.3% increase in GDP for the three months leading to July. The manufacturing and information & communications sectors were

UK inflation has remained flat at 2.2% in August, despite a significant surge in airfares. The Office for National Statistics (ONS) reported that lower fuel prices and slower increases in restaurant costs offset the rise in flight costs. This news comes as the Bank of England is expected to maintain

A major divide in new construction investment has opened between Scotland and the rest of Britain, according to a new report by Barbour ABI and the Construction Products Association (CPA).

The UK's national debt is projected to treble over the next 50 years, driven by an ageing population, climate change, and geopolitical tensions, according to the Office for Budget Responsibility (OBR). In its latest Fiscal Risks and Sustainability Report, the OBR revealed that without increased

Store closures in Scotland have slowed significantly, with towns and cities losing less than one shop a day on average, according to PwC. PwC's bi-annual report, using data from location data specialist Green Street, tracks more than 200,000 chain outlets in over 3,500 locations to gain a picture of

The UK economy has experienced a second consecutive month of stagnant growth in July, with GDP remaining flat.

The Scottish labour market continues to demonstrate strength, with employment rates rising and unemployment falling in the May to July 2024 quarter, according to recent figures. Despite a slight lag behind UK averages, Scotland's employment rate reached 74.2%, while the unemployment rate dropped to

Scotland's private sector maintained its growth trajectory in August, according to the latest Regional Growth Tracker data from RBS. The economy was again, however, driven by the service sector, masking a downturn at manufacturers. Service firms also revealed a further improvement in demand trends,

Two major Scottish cities have improved their performance in PwC's Good Growth for Cities Index.