Outlook and appraisal [March 2014]

Ashcroft, Brian (2014) Outlook and appraisal [March 2014]. Fraser of Allander Economic Commentary, 37 (3). pp. 2-24. ISSN 2046-5378

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The latest Scottish GDP data for the third quarter of 2013 show that Scottish GDP rose by 0.7% in Scotland in the quarter, a little less than the 0.8% rise in the UK. Over the year to the second quarter - four quarters on previous four quarters - Scottish GDP grew at 1.3% identical to the outturn in the UK. These data provide further evidence of a strengthening recovery. Positive growth has now been recorded for the Scottish economy in the previous 6 quarters. Yet, as noted in the previous Commentary the recovery continues to be considerably weaker than from any recession in the last 70 to 80 years.