The Scottish economy [May 1982]

Fraser, N. and Bell, D. and Hamilton, D. and Harrigan, F. and Jowett, A. and McGilvray, J. and McNicoll, I. and Moar, L. and O'Donnell, N. and Simpson, D. and Tait, E. and Wingfield, A. (1982) The Scottish economy [May 1982]. Quarterly Economic Commentary, 7 (4). pp. 5-26. ISSN 0306-7866

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The Scottish economy is taking the first tentative steps towards a recovery in industrial output. Indices of production have slowly started to edge upwards and the results of the April 1982 CBI Industrial Trends Survey show a growth in business confidence. While unemployment will continue to rise, those in work will be faced with less short-time working and increased opportunities for overtime. The prospects for significant long-term growth with a concomitant reduction in unemployment is, however, dependent on a number of factors both domestic and international.