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Forecasts of the Scottish economy [June 2006]

Low, Kenneth (2006) Forecasts of the Scottish economy [June 2006]. Quarterly Economic Commentary, 31 (1). pp. 17-20. ISSN 0306-7866

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While the world economy slowed slightly in 2005 it is now clear that strong growth remains in the US, Japan, China, India and several other non-OECD countries. While the Euro Area has been a slow performer there are now signs of a broad based recovery even in Germany. We suggest that there is still a problem translating increased activity into higher incomes and therefore Germany could be losing out on some consumption gains.