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11/05/2015
Growth Returns To Scottish Economy - Survey
A new survey has found that Scotland's economy has returned to growth.
The Bank of Scotland's Purchasing Managers' Index (PMI) survey revealed that both employment and new business increased in the country in the month of April.
The bank's monthly PMI measures the changes in combined manufacturing and services output, and in April this was said to be 50.7. An increase from 49.4 in March. Any reading above 50 suggests economic expansion.
There was an increase in services firms winning new business due to a rise in market confidence and increased marketing, while the travel, tourism and leisure categories also enjoyed a growth. There was however, a slight fall in the financial services sector. Manufacturing also reported a decline in new export business.
Elsewhere, employment increased for the third month in a row.
Donald MacRae, Bank of Scotland chief economist, is quoted as saying: "The slowdown of the first three months of this year is slowly being reversed with both employment and new business increasing in April, suggesting a return to a more normal growth rate in the second quarter."
(JP/CD)
The Bank of Scotland's Purchasing Managers' Index (PMI) survey revealed that both employment and new business increased in the country in the month of April.
The bank's monthly PMI measures the changes in combined manufacturing and services output, and in April this was said to be 50.7. An increase from 49.4 in March. Any reading above 50 suggests economic expansion.
There was an increase in services firms winning new business due to a rise in market confidence and increased marketing, while the travel, tourism and leisure categories also enjoyed a growth. There was however, a slight fall in the financial services sector. Manufacturing also reported a decline in new export business.
Elsewhere, employment increased for the third month in a row.
Donald MacRae, Bank of Scotland chief economist, is quoted as saying: "The slowdown of the first three months of this year is slowly being reversed with both employment and new business increasing in April, suggesting a return to a more normal growth rate in the second quarter."
(JP/CD)
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