dgp4indy

Business

Scottish Economy Grows For 9th Quarter In A Row

From Insider yesterday: ‘The Scottish economy grew between January and March this year despite uncertainty around the UK’s expected departure from the EU, according to official figures. Statistics published on Wednesday show GDP in the country grew at the same rate as that of the UK – 0.5% – over the period. It represents the ninth consecutive quarter of growth for the Scottish economy. Analysis suggests growth in the quarter was driven by the manufacturing and construction sectors, which grew by 2.6% and 2% respectively. Two sub-sectors of manufacturing – food and drink and pharmaceutical – account for more than half of the 0.5% growth during the quarter, with some suggestions the increase in manufacturing is due to stockpiling for Brexit.’
https://thoughtcontrolscotland.com

Scottish Exports To EU Leave The Rest Of The UK Behind

From Insider yesterday: ‘Oil and gas drove the value of Scotland’s experts to the EU up by 18.6% over the last year, according to Treasury figures. Whisky was also a big factor in the rate of increase which outstripped every other part of the UK, which had an overall rise of 12.9% – £3.8 billion. Total Scottish exports now account for a record-high £32.8 billion, with more businesses exporting goods than ever before. In the first quarter of 2019, 4,950 Scottish businesses exported abroad, 229 more than the same period in the previous year. Fossil fuel exports increased in value by 36.3% to £12.5 billion, with beverages including whisky increasing by 7% to £4.4 billion.’ Note: The EU single market and customs union is eight times bigger in population terms than the UK market.
https://thoughtcontrolscotland.com

Scotland's Massive Visitor Increase

From news.gov.scot today:

  • The number of European visitors to Scotland increased by 19% in 2018, according to official statistics released today.
  • Overall there was a 10% increase in visits from overseas tourists and a 1.2% increase in domestic (Great Britain) overnight visits to Scotland.
  • These increases compare to a 3% decrease in overseas tourism visits and a 6% decrease in overseas expenditure for the UK as a whole.
    https://thoughtcontrolscotland.com

Scottish Building Sector Work Up 10% As UK Slumps 29%

In Insider yesterday: "Scottish building firms had a strong start to the year because they are not over-dependent on overseas workers, says an industry body. A study for the Federation of Master Builders found construction SMEs with more work was up a net 10% on the previous quarter in Scotland. That compared with a dip of 29% UK wide, the first fall in six years." https://www.insider.co.uk/news/scottish-building-sector-rebounds-face-14974458
https://thoughtcontrolscotland.com

  1. Scottish Unemployment Below UK Level
  2. Scotland's Exports Boom To Keep Trade Surplus Up
  3. Business Confidence In Scotland Up 4%
  4. 1.3m Scots Have Benefitted From £63m Social Benefit In 1 Year