Economy

Inflation tracked by the UK's consumer prices index (CPI) increased by 2.8% in the year to February 2025, a reduction from January's 3.0%, according to the Office for National Statistics (ONS). This figure was marginally below market forecasts of 2.9%. Core CPI, excluding volatile items, rose by 3.5

Stirling will have the fastest-growing economy in Scotland over the next three years – and be among the top four for growth in the UK – according to new research from Ernst & Young (E&Y).

A new economic forecast by EY has predicted slower gross value added (GVA) growth for Scotland compared to other UK regions over the next three years.

Firms occupying larger premises in Scotland are set to pay £54.7 million more than their equivalent-sized counterparts down south in the coming year, from 1 April. The figures have prompted the Scottish Retail Consortium (SRC) to reiterate its call for rates parity with England and for the int

Global investors have significantly increased their allocation to UK stocks, reaching the highest level since June 2021, according to Bank of America’s (BofA) latest Global Fund Manager Survey.

Scottish retail sales experienced a slight decline in February 2025, according to the latest figures. Total sales decreased by 0.4% compared to the previous year, although when adjusted for inflation, there was a modest 0.3% increase. Like-for-like sales remained flat.

The UK economy unexpectedly shrank by 0.1% in January, a setback for the government as Chancellor Rachel Reeves prepares for the Spring Statement. This contraction, driven primarily by a decline in manufacturing, falls short of economists' predictions of 0.1% growth.

Scotland's private sector output experienced a third consecutive monthly decline in February, according to the Royal Bank of Scotland's Scotland Growth Tracker. The seasonally adjusted index, measuring combined manufacturing and service sector output, fell to 49.0, indicating a marginal contraction

Following a 1.0% increase in January, Scottish retail footfall experienced a 0.3% decline in February compared to the same period in 2024, according to data from the Scottish Retail Consortium (SRC) and Sensormatic Solutions.

Scotland's economy outperformed the UK in 2024, however, a sharp slowdown in consumer-facing sectors during the fourth quarter signals growing household caution amidst economic uncertainty, according to EY. The latest EY ITEM Club Scotland forecast projects a GVA growth of 0.9%. While GDP data

Former Bank of England Governor, Lord Mervyn King, has stated that an increase in income tax is likely necessary to fund heightened defence spending and facilitate public service reform. Speaking on Sky News, Lord King criticised the UK government's lack of ambition. He said: "When you’re faci

Scotland has secured over £850 million in investment over the past four months, driven by strong interest in its burgeoning energy transition sector. The total is boosted today by the Scottish National Investment Bank’s (SNIB) announcement of £6.7m for Subsea Micropiles, which is d

Scotland's onshore GDP experienced a 0.6% increase in December 2024, according to official statistics. This follows growth of 0.2% in November 2024, revised up from ‑0.5%. However, the overall picture for the fourth quarter of 2024 revealed stagnant growth, with a 0.0% change compared to the previ

UK inflation climbed to 3% in January, exceeding forecasts and presenting a challenge for the Bank of England (BoE). The Office for National Statistics reported the annual rate of price growth was up from 2.5% in December and higher than the 2.8% predicted by economists polled by Reuters. This figur

Scottish salmon exports have reached an unprecedented £844 million, a remarkable 45% increase in just one year, remaining as the UK's top food export.