Economy

The UK is poised to have the weakest economic performance among G7 nations in the coming year, according to the Organisation for Economic Cooperation and Development (OECD). The OECD has revised down its growth forecast for the UK this year from 0.7% to 0.4%. It anticipates further sluggishness, pre

Following 0.6% growth in January, Scotland's economy experienced a slight setback in February 2024, with onshore GDP contracting by 0.3%, according to statistics announced by the Chief Statistician. On a positive note, in the three months to February, GDP is estimated to have grown by 0.4%

Scotland is poised for a gradual economic recovery with steady growth predicted over the medium term, according to KPMG UK's inaugural Scottish Economic Outlook report. The forecast shows growth of 0.4% for the Scottish economy this year, similar to the rest of the UK, but relatively weak by histori

March saw a slight slowdown in the UK's inflation, but it fell short of economists' expectations, reducing the likelihood of the Bank of England's interest rate cuts, experts have commented.

Scotland saw a 0.5% increase in payrolled employees in March 2024 compared to the same period in 2023, reaching a total of 2.45 million employees, according to the latest labour market trends. Median monthly pay for payrolled employees also saw a substantial rise, reaching £2,389, marking a 6.

Scotland’s private sector witnessed a third consecutive monthly expansion in output during March, according to RBS' Scotland Business Activity Index. The seasonally adjusted index, measuring the month-on-month change in combined manufacturing and service sector output, rose from 52.1 in Februa

The UK's gross domestic product (GDP) rose by 0.1% in February, with the manufacturing and services sectors posting higher output, offsetting a significant decline in construction activity.

Scotland has experienced a continued deterioration in permanent staff placements during March, according to the latest Royal Bank of Scotland Report on Jobs survey. The survey, compiled by S&P Global, shows that while the rate of decline eased from the previous month, the number of people placed

Following unrevised 0.4% growth in December 2023, Scotland's onshore GDP grew by 0.6% in January 2024, according to the Chief Statistician.

The Bank of England Governor, Andrew Bailey, has signalled that markets are correct to anticipate more than one interest rate cut this year, expressing growing confidence that inflation is heading towards the target. In an interview with the Financial Times, Governor Bailey stated that rate cuts wer

The UK economy has exhibited indications of a potential recovery, as January's GDP growth of 0.2% reversed most of the decline experienced in the latter part of 2023. The rise, driven by a rebound in retail sales and robust construction activity, aligns with market expectations and could signify the

Recruitment across Scotland experienced further setbacks in February, according to the latest Royal Bank of Scotland Report on Jobs compiled by S&P Global.

While economic momentum and employment growth will gradually build throughout the UK over the next three years, Scotland’s labour market is expected to continue to see challenges and lag other regions, according to the latest EY Regional Economic Forecast. The average employment growth rate in

The UK may have already emerged from recession, with signs of an upturn, according to the Governor of the Bank of England Andrew Bailey. In a recent appearance before a committee of MPs, Mr Bailey indicated the possibility of interest rate cuts even before inflation reaches the 2% target. The b

Official figures have revealed that the UK has entered a technical recession at the close of 2023.