Outlook and appraisal [June 2014]
Ashcroft, Brian (2014) Outlook and appraisal [June 2014]. Fraser of Allander Economic Commentary, 38 (1). pp. 2-24. ISSN 2046-5378
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Abstract
In 2013 Scottish GDP grew at 1.6% a little less than the 1.7% outturn in the UK. This suggests that without the loss of output due to the dispute at Grangemouth in October 2013, Scottish growth would have equalled that of the UK. Positive growth has now been recorded for the Scottish economy in the previous 7 quarters. But to reiterate our previous warnings: the recovery continues to be considerably weaker than that of any recession in the last 70 to 80 years (i.e since the 1930’s). In the fourth quarter, GDP in Scotland was -0.9% below its pre-recession peak, whereas UK GDP stood at -1.4% below its pre-recession peak of more than 5 years ago. However, due to the greater fall in UK output during the recession, recovery from the recession has been stronger in the UK.
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Item type: Article ID code: 48617 Dates: DateEvent18 June 2014PublishedSubjects: Social Sciences > Economic Theory
Social Sciences > CommerceDepartment: Strathclyde Business School > Economics
Strathclyde Business School > Fraser of Allander InstituteDepositing user: Pure Administrator Date deposited: 18 Jun 2014 08:30 Last modified: 01 Sep 2024 01:08 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/48617