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Scottish economic recovery expected to continue throughout 2014.

M2 EQUITYBITES-March 27, 2014-Scottish economic recovery expected to continue throughout 2014

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Bank of Scotland, part of the Lloyds Banking Group, on Wednesday revealed that its latest Business Monitor is showing the recovery in the Scottish economy was continuing to strengthen at the beginning of 2014.

Expectations for the Scottish economy for the coming six months are at the highest level since the middle of 2007, prior to the beginning of the recession.

During the three months ending February 2014, 41% of firms who responded to the survey reported increased turnover, 36% experienced static turnover, and 23% experienced a decline. This result gave a net balance of +18%; an increase from the +15% of the previous quarter and an improvement on the -5% of the same quarter in the prior year. This is the second best result from the survey in six and a half years and these responses return the net balance figure to pre-recession levels of late 2007.

Overall net balance of turnover for firms in the production sector in the three months to end February 2014 was +16%, this is an increase compared to the +12% of the previous quarter and is also up on the +2% of the same quarter a year ago.

Chief economist, Bank of Scotland, Donald MacRae, said "The surge in economic activity identified in summer 2013 has been maintained through autumn and winter with the latest quarter showing the second best result in six and a half years. Expectations for 2014 are at their highest level since mid 2007 suggesting the recovery will continue throughout 2014 and will become increasingly embedded. An increase in investment by firms would further enhance the recovery."

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Date:Mar 27, 2014
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