Outlook and appraisal [June 1990]

Love, Jim and Ashcroft, Brian and Brooks, Richard and Dourmashkin, Neil and Draper, Paul and Dunlop, Stewart and Lockyer, Cliff and Magee, Lesley and Malloy, Eleanor and McNicoll, Iain and McRory, Eric and Monaghan, Claire and McGregor, Peter and Perman, Roger and Stevens, Jim and Swales, Kim (1990) Outlook and appraisal [June 1990]. Quarterly Economic Commentary, 15 (4). pp. 1-2. ISSN 0306-7866

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With the continuation of a policy of high interest rates as a method of reducing consumer demand, Scotland continues to show clear signs of outperforming the UK. Confidence in manufacturing, and especially in retailing, has recovered over recent months because the expected downturn has failed to become reality as quickly as had been expected. The UK economy remains more resilient to high interest rates than expected by the Government, and increasingly worries about recession are giving way to concerns over the underlying rate of inflation.