Economy

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.

Resilient consumer spending may have helped the Scottish economy avoid a recession, but economic growth has been flat since Q2 of 2022 and will remain into 2024 when GVA is expected to rise by 0.3%, according to the EY ITEM Club Scottish Autumn forecast. The forecast adds that sentiment among busine

Amidst the economic turbulence of high inflation, soaring public debt, and the highest tax burden since World War Two, Armstrong Watson's experts comment on what to expect as the Autumn Statement approaches with high anticipation. Chancellor Jeremy Hunt is poised on a tightrope, balancing calls for

Scottish consumers have begun to increasingly display a diminishing interest the Black Friday sales, with a mere 35% expressing intent to participate in 2023, signalling a significant drop from the previous year's national interest of 61% to 44%.

Scottish retailers have faced a daunting start to the crucial festive period, with total sales rising a modest 2.9% in October 2023 compared to the same month last year, falling below both the three-month and twelve-month average increases.

The UK's inflation rate has dipped to a two-year low of 4.6%, signalling a favourable turn in the country's economic landscape.

The Scottish labour market has shown signs of stability and incremental change, according to the latest official figures.

The UK's economy has displayed resilience in the Q3 of 2023, with the GDP managing to remain steady, thus averting the risk of a technical recession.

Scotland's economic outlook remains cautious, with growth anticipated to be subdued through 2023 and 2024, according to the latest PwC UK Economic Outlook report. The Scottish economy is expected to see real gross value added (GVA) growth of just 0.3% in 2023, aligning with some regions but falling

Scotland's labour market experienced a continued decline in recruitment activities, with a particular slowdown in permanent staff placements and temp billings, as reported in the Royal Bank of Scotland's latest Report on Jobs for October 2023. This contraction, the most moderate in three months, coi

Scotland's retail sector felt the brunt of severe October storms, with shopper footfall witnessing a significant drop, according to the latest data from SRC-Sensormatic IQ.