Economy

Scottish retail sales witnessed a sharp decline in July, with factors including inclement weather and unfavourable economic conditions weighing heavily on the industry, as per data from the Scottish Retail Consortium (SRC). July's sales showed a modest growth of 4.6% compared to July 2022, but this

A significant drop in inflation was recorded for July, with the Consumer Price Index (CPI) having decreased from 7.9% to 6.8%. The drop is in line with the Bank of England's projections and was expected, particularly in light of the preceding month’s energy bill cut. Nevertheless, core inflati

Recent data emerging from Scotland's labour market has placed the Monetary Policy Committee's (MPC) next interest rate decision in a challenging position.

Recent government research has highlighted a waning faith amongst UK companies in the benefits of new free trade deals post-Brexit.

There was a notable increase in company insolvencies last month with 97 cases registered in Scotland, marking a 41% rise from the previous year. These insolvencies were spread across 44 compulsory liquidations, 51 CVLs (Company Voluntary Liquidations), and two administrations. There were no instance

New analysis by PwC UK has shown that bringing labour market participation among Scotland’s older workers up to similar levels to the South East of England could create more than 55,000 additional jobs. The latest Golden Age Index highlights the significant regional variation in the employment

The UK's economic growth outpaced expectations in the second quarter, with a 0.2% increase from April to June compared to the previous three months, according to the Office for National Statistics (ONS). GDP grew 0.5% in June and the Q2 rise was a modest uptick from the 0.1% growth seen in each of t

Scottish salmon exports have racked up an impressive £306 million in sales between January and June, driven predominantly by the increasing demand in Asian and American markets.

In its 14th consecutive increase, the Bank of England has raised interest rates by 0.25 percentage points to 5.25%, a move that slows down the pace of increases as signs emerge that the persistently high inflation in the UK is starting to ease.

The UK's inflation rate witnessed a greater-than-expected drop to 7.9% in June, a 13-month low, due to a decrease in petrol prices, as reported by the Office for National Statistics (ONS). This figure represents a noteworthy decline from May's 8.7% inflation rate, the weakest since the onset of the

The UK economy shrunk by a lower-than-expected 0.1% in May, partially due to an additional bank holiday for the King's coronation, recent ONS data has revealed.

In an environment of soaring interest rates and stubborn inflation, UK households continue to feel the sting of the ongoing cost of living crisis, with a cumulative loss of £65 billion in spending power forecast by May 2024, according to research by Grant Thornton UK and Retail Economics.

Scotland has experienced a continued downturn in hiring activity, with permanent staff appointments contracting for the fifth month in a row due to economic uncertainty and hesitations from candidates in seeking new roles, according to the recent RBS Report on Jobs survey. While permanent staff

In the first quarter of 2023, the UK economy experienced a minor growth in output, maintaining the same rate as previously estimated. The Office for National Statistics (ONS) confirmed a 0.1% increase in the gross domestic product (GDP) from the final quarter of the previous year, mirroring the grow

Scotland is set to create its first two Investment Zones in the Glasgow City Region and the North East, with up to £160 million of targeted investment, tax reliefs, and other incentives being earmarked over the next five years. This joint initiative by the Scottish and UK governments aims to b