Bank of Scotland

Scottish Economy expected to grow in 2014

06 January 2014

The recovery in the Scottish economy, identified in summer, has been carried through into autumn, the latest Business Monitor from Bank of Scotland shows. Expectations are high for the recovery to continue into 2014.

In the three months ending November 2013, 37% of firms surveyed increased turnover, 41% experienced static turnover, and 22% experienced a decrease. This gave a net balance of +15%; a fall from the +23% of the previous quarter but a substantial improvement on the -10% of the same quarter one year ago. This is the second best result in six years and returns the net balance figure to pre-recession levels of 2007.

The overall net balance of turnover for firms in the production sector in the three months to end November this year was +12%. This is down on the +24% of the previous quarter but well up on the +1% of the same quarter one year ago.

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