Economy

The EY ITEM Club has downgraded its GDP growth expectations for 2025 to 0.8%, down from the 1% predicted in February’s Winter Forecast, and has revised its 2026 forecast down from 1.6% to 0.9%. While the start of 2025 appeared to show economic momentum building, the weaker global economy and m

UK government borrowing has exceeded official forecasts in March and for the full 2024-2025 fiscal year, intensifying pressure on public finances amidst a challenging economic outlook compounded by US tariffs. Data released by the Office for National Statistics (ONS) revealed a shortfall between gov

The percentage of Scottish small businesses predicting growth has fallen to a four-year low (29%), according to new figures from Novuna Business Finance.  The current position stands in stark contrast to last summer, which saw a period of stability in Scottish growth outlook.

Edinburgh's Smart Data Foundry has launched the Economic Wellbeing Explorer, a platform offering unprecedented insight into financial hardship across Scotland. Using near real-time data from 5.3 million bank accounts, the Explorer tracks economic resilience and wellbeing at national, regional, and l

UK inflation fell to 2.6% in March, dropping from 2.8% in February and below City forecasts of 2.7%, intensifying pressure on the Bank of England to consider cutting interest rates at its meeting next month. The Office for National Statistics attributed the lower rate primarily to falling fuel

The UK economy showed unexpected strength in February, with GDP expanding by 0.5% – significantly outpacing economists' forecasts of 0.1% growth.

US President Donald Trump's proposed tariffs could cost the UK economy nearly £22 billion over the next two years, according to analysis by KPMG. The economists predict a potential US trade war would reduce UK economic output by 0.8% by 2027, leaving the country £21.6bn worse off and add

Scotland’s known public sector procurement spend in 2022-23 delivered an estimated 120,000 full-time equivalent jobs and £7.5 billion to Scottish GDP, according to new figures. The sixth annual report on procurement activity in Scotland shows that known procurement spend generated an est

Over a third of Scottish mid-market businesses have said that they expect to be directly affected ‘to a significant extent’ by the US Government tariffs, according to the latest survey from BDO. Its survey of 500 mid-market businesses conducted between 24 March and 2 April -  before

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.