03 Jul 2014

Scotland's economy is back at pre-recession levels

Scotland's economy is back at pre-recession levels

Peter Mutch, Corporate benefits Director, discusses the news that Scotland's economy is back at pre-recession levels.

Peter Mutch, Corporate benefits Director, discusses the news that Scotland's economy is back at pre-recession levels.

The Scotsman has reported that Scotland’s economy is back performing at pre-recession levels.

A new survey of business has suggested that company turnover in the Bank of Scotland Business Monitor are the best results for almost seven years, with almost half of businesses surveyed saying that they had seen their turnover rise in the three months up to the end of May, with companies in both the service sector and the production sector seeing improvements.

More than a quarter of the firms surveyed said exports activity had increased in this period, whilst 60 per cent said it was static. Almost half of the firms who were questioned expect their total volume of business to increase in the six months between May and November, whilst 46 per cent expect to see turnover to grow and 3 per cent believe exports will rise over this period.

This is great news with a sustained recovery predicted. Indicators show that Scottish businesses are feeling more confident in the UK economy and in their own ability to grow with it. Scottish products and services are recognised globally for quality and innovation. By using improving domestic conditions as a platform, more businesses will look to develop new products and create jobs in a bid to make a bigger global impact. Scottish businesses have a long and rich history of exporting to overseas markets and this is only set to continue and grow. 

Peter Mutch, Corporate Benefits Director


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