The Scottish economy [June 1993]

McFarland, Mark and Ashcroft, Brian and Draper, Paul and Dunlop, Stewart and Leith, Campbell and Le Tissier, Sarah and Lockyer, Cliff and Malloy, Eleanor and McGough, Tony and McGregor, Peter and McNicoll, Iain and McRory, Eric and Reid, Clare and Smith, Ronnie and Stevens, Jim and Swales, Kim and Yin, Ya Ping, Fraser of Allander Institute (1993) The Scottish economy [June 1993]. Quarterly Economic Commentary, 18 (4). pp. 10-51. ISSN 0306-7866

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    Abstract

    The latest official release of the seasonally adjusted output index for Scottish production industries (Divisions 1 to 4 of the 1980 SIC) shows a marked increase (4.7%) in the final quarter over the previous quarter last year. This increase is due largely to a dramatic 30% increase in the output of the electrical and instrument engineering industries in the final quarter. However, considering the overall performance of the UK manufacturing industry (including the electrical and instrument engineering industries which experienced a more modest growth of 3% in the same period), and given all the information contained in various business surveys, such a substantial increase in Scottish production output should, we think, be treated with caution.