Economy

The Scottish economy has reported growth of 0.3% in the three months to February 2023, according to the latest PwC UK Economic Outlook — alongside the rest of the UK’s nations and regions. Whilst the rate of growth north of the border is greater than that of North East, South East,

Mortgage approvals in the UK increased significantly to 52,000 in March, up from 44,100 in February, as per the Bank of England's Money and Credit report.

The Financial Conduct Authority (FCA) has proposed reforms to streamline the UK's listing rules with the aim of attracting a broader range of companies and improve investor choices.

The UK's Consumer Price Index (CPI) inflation fell to 10.1% in March, primarily due to dropping petrol prices.

Sentiment among finance leaders of the UK’s largest firms has improved significantly since the start of the year, according to Deloitte’s UK CFO Survey Q1 2023. The largest increase in confidence since the COVID-19 vaccine rollout was observed, with a net 25% of CFOs being more optimisti

The UK economy is predicted to avoid a technical recession and a calendar year contraction in 2023, with an anticipated growth of 0.2%, according to the EY ITEM Club Spring Forecast. The improvement is attributed to better-than-expected GDP in Q4 2022 and the expected rapid easing of inflationary pr

In February, the UK experienced flat GDP growth, which fell short of expectations for an increase, however, January's GDP was revised upward, aligning February's output with predictions. Industrial action in the public sector negatively affected February's activity, while construction output rebound

Chancellor Jeremy Hunt's attempts to boost the UK economy have fallen short, as the IMF predicts a 0.3% contraction in 2023, leaving the UK near the bottom of the global league table.

The latest Scottish Chambers of Commerce (SCC) survey has reveals that while the beginning of 2023 brought relief to some sectors of the Scottish economy, cost pressures and inflation concerns continue to impede overall business growth. Many Scottish SMEs still report no improvement in sales, cashfl

Fraser of Allander Institute has forecast a -0.7% contraction in the Scottish economy in 2023, returning to 0.9% annual growth in 2024. Uncertainties have increased due to concerns in global financial system and persistently high inflation. Lack of clarity on annual impacts on Scottish Budget and UK

Scotland’s onshore GDP increased by 0.9% in January, according to statistics announced by the chief statistician.

Amid instability in the US and European banking systems and an unexpected jump in inflation to 10.4% during February, the Bank of England has announced another increase to the base interest rate to 4.25%.

Despite falling petrol prices having a positive effect on inflation, the consumer price index (CPI) unexpectedly jumped 0.3% to 10.4%.

Scotland's food and drink industry has achieved record high exports despite the impact of Brexit, according to HMRC trade statistics. The industry's global exports were worth £8 billion in 2022, a 30.6% increase from the previous year and 8.1% higher than the pre-pandemic peak in 2019.

In today's Spring Budget announcement, the Chancellor of the Exchequer, Jeremy Hunt, did not reveal many surprises as expected policies were confirmed. The Chancellor began his speech by noting that the UK economy will not enter a "technical recession this year" saying that “our plan is workin