Economy

There were 108 company insolvencies registered in Scotland in December 2023, 5% lower than the number in December 2022, according to the latest official statistics. This was comprised of 40 compulsory liquidations, 65 CVLs and three administrations. There were no CVAs or receivership appointments.

The contribution of the Scotch whisky industry to the UK economy reached £7.1 billion in 2022, according to a new report by the Scotch Whisky Association (SWA).

The latest Royal Bank of Scotland PMI has revealed a further decline in the Scottish private sector at the close of 2023.

The financial repercussions of Brexit have been projected to reach a loss of £311 billion by the mid-2030s, a new report has revealed.

The UK economy demonstrated resilience in November, rebounding with a 0.3% month-on-month growth, countering the previous month's decline.

In a challenging conclusion to 2023, Scottish retailers faced a disappointing December as sales figures revealed a decline in real terms.

The Royal Bank of Scotland's latest Report on Jobs survey reveals a concerning trend in the Scottish job market, with a notable drop in permanent staff appointments during December.

CBRE has forecast a nascent economic recovery in the latter half of 2024, with a more robust rebound expected in 2025, according to its UK Real Estate Market Outlook 2024. This optimistic outlook is bolstered by the Bank of England's anticipated interest rate cuts in the second half of 2024, wh

The Bank of England (BoE) has again decided to maintain the base interest rate at 5.25%. This decision came amidst Governor Andrew Bailey's assertion that considerable effort is still needed to bring inflation down to the standard 2% target. The Monetary Policy Committee (MPC) voted six to three in

The UK economy has faced a downturn in October, with a contraction observed across all major sectors, which saw GDP fall by 0.3% month-on-month. The decline was notably consistent with the sluggish trends indicated in recent business surveys. The EY ITEM Club's chief economic advisor, Martin Be

As Christmas 2023 approaches, Scottish retailers have been faced with a challenging trading environment, marked by a slowdown in sales growth, according to the KPMG-SRC Scottish Retail Sales Monitor.

November marked a significant turnaround in Scotland's recruitment sector with a renewed rise in hiring activity, as revealed by the Royal Bank of Scotland Report on Jobs.

In recent financial developments, gold prices soared to a record high of $2,135.40 (around £1,690) an ounce, spurred by the anticipation of lower global borrowing costs, a weakening US dollar, and expectations of loosening global monetary policies.

Scottish consumers are preparing for a more frugal festive season, as financial pressures cause a significant reduction in holiday spending, according to PwC's latest Festive Predictions. The annual research explores consumers’ Christmas shopping behaviours, from spending on gifts to their fes

Chancellor Jeremy Hunt has announced a slew of financial measures aimed at bolstering the economy by aiding businesses, pensioners, the hospitality industry, and the self-employed.