The Scottish economy [July 1979]

Bell, David N.F. and Kirwan, Frank X. and McGilvray, James W. and McNicoll, Iain H. and Moar, L. and Orton, Ian and Simpson, David R. F. and Wingfield, A. A. (1979) The Scottish economy [July 1979]. Quarterly Economic Commentary, 5 (1). pp. 5-26. ISSN 0306-7866

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The Scottish index of industrial production has now been revised to base 1975 = 100, following a similar revision to the UK index. The index for all industries (excluding oil) reveals the very poor performance of the Scottish economy during 1978. Between the first and fourth quarters of 197S, this index fell from 100.7 to 99.5. Thus, Scottish production in the final quarter of 1978, a year in which the UK economy was thought to have staged some sort of recovery, was actually less than average quarterly production in 1975. In the UK, industrial production (excluding oil) rose from a n index level of 102.2 to 103.4 between the first and fourth quarters of 1978 - a considerably better performance than that in Scotland.