The economic background [June 1994]

McFarland, Mark and Anthony, Myrvin and Armstrong, Lorraine and Ashcroft, Brian and Draper, Paul and Dunlop, Stewart and Le Tissier, Sarah and Love, Jim and Low, Kenneth and Lockyer, Cliff and Malloy, Eleanor and McGregor, Peter and McNicoll, Iain and McRory, Eric and Reid, Clare and Stevens, Jim and Swales, Kim, Fraser of Allander Institute (1994) The economic background [June 1994]. Quarterly Economic Commentary, 19 (4). pp. 1-9. ISSN 0306-7866

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The trading environment for Scottish business seems set to improve following a bleak year in 1993. World GDP continued to recover last year and is estimated to have grown by 2.3% following 0.7% growth in 1991 and 2.3% in 1992. However, this strong growth was not reflected in Scotland's key export markets of England and continental Europe. The global recovery is due to a strong performance in North America, Australasia and the industrialising economies of Latin America and the Pacific Rim.