Economy

Scotland’s economy is set to gain momentum this year with the prospect of interest rate cuts from May onwards, a continuing fall in inflation, and decreasing energy prices. Continued growth in pay and easing pressure on household finances should also boost consumer sentiment, according to the

Some 18.2% of UK-listed companies issued profit warnings in 2023, surpassing the levels witnessed during the 2008 financial crisis, as indicated by EY-Parthenon's latest Profit Warnings report. In total, 294 profit warnings were issued in 2023, a small decrease of 11 from 2022 when 305 warnings were

Scotland's onshore GDP faced a marginal contraction of 0.1% in November, a slight improvement from the revised figure of -0.6% in October 2023, according to the latest data announced by the chief statistician.

UK inflation experienced an 0.1% increase in December, breaking a 10-month streak of decline. Consumer prices rose at an annual rate of 4%, surpassing both the previous month's figure of 3.9% and economists' expectations of 3.8%, according to the Office for National Statistics (ONS).

There were 108 company insolvencies registered in Scotland in December 2023, 5% lower than the number in December 2022, according to the latest official statistics. This was comprised of 40 compulsory liquidations, 65 CVLs and three administrations. There were no CVAs or receivership appointments.

The contribution of the Scotch whisky industry to the UK economy reached £7.1 billion in 2022, according to a new report by the Scotch Whisky Association (SWA).

The latest Royal Bank of Scotland PMI has revealed a further decline in the Scottish private sector at the close of 2023.

The financial repercussions of Brexit have been projected to reach a loss of £311 billion by the mid-2030s, a new report has revealed.

The UK economy demonstrated resilience in November, rebounding with a 0.3% month-on-month growth, countering the previous month's decline.

In a challenging conclusion to 2023, Scottish retailers faced a disappointing December as sales figures revealed a decline in real terms.

The Royal Bank of Scotland's latest Report on Jobs survey reveals a concerning trend in the Scottish job market, with a notable drop in permanent staff appointments during December.

CBRE has forecast a nascent economic recovery in the latter half of 2024, with a more robust rebound expected in 2025, according to its UK Real Estate Market Outlook 2024. This optimistic outlook is bolstered by the Bank of England's anticipated interest rate cuts in the second half of 2024, wh

The Bank of England (BoE) has again decided to maintain the base interest rate at 5.25%. This decision came amidst Governor Andrew Bailey's assertion that considerable effort is still needed to bring inflation down to the standard 2% target. The Monetary Policy Committee (MPC) voted six to three in

The UK economy has faced a downturn in October, with a contraction observed across all major sectors, which saw GDP fall by 0.3% month-on-month. The decline was notably consistent with the sluggish trends indicated in recent business surveys. The EY ITEM Club's chief economic advisor, Martin Be

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.