Outlook and appraisal [October 2013]

Ashcroft, Brian (2013) Outlook and appraisal [October 2013]. Fraser of Allander Economic Commentary, 37 (2). pp. 3-24. ISSN 2046-5378

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There is little doubt that after five years since the start of the Great Recession we are now witnessing a stronger recovery, all be it belatedly compared to any recession in the last 70 to 80 years. And there are good reasons to be hesitant about whether the recovery can be sustained. Nevertheless, the Scottish economy has grown for five successive quarters to the second quarter of this year. The UK has grown for three successive quarters to the third quarter of the year. And the growth rate has been rising as 2013 unfolds.