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The Scottish economy [July 1978]

Bell, David N. F. and Hart, S. and Kirwan, Frank X. and McGilvray, James W. and Morton, A. J. and Simpson, David R. F. and Wingfield, Alison A., Fraser of Allander Institute (1978) The Scottish economy [July 1978]. Quarterly Economic Commentary, 4 (1). pp. 7-35. ISSN 0306-7866

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It is now clear that the UK economy is enjoying a consumer-led boom of the type which so characterised its behaviour during the fifties and sixties. Exhortations to export or investment-led growth have largely been forgotten. The early indications suggest that the Scottish economy is expanding along with the rest of the UK. The CBI Survey, the number of company formations, and the incidence of overtime working, all suggest that some expansion has already taken place. This can be expected to continue throughout the remainder of 1978. Detailed analyses of the latest Scottish production, unemployment, and investment data are considered.