The Scottish economy [June 1989]

Ashcroft, Brian and Love, Jim and Brooks, Richard and Dourmashkin, Neil and Draper, Paul and Dunlop, Stewart and Yin, Ya Ping and Lockyer, Cliff and Malloy, Eleanor and McRory, Eric and Monaghan, Claire and McGregor, Peter and McNicolI, Iain and Perman, Roger and Stevens, Jim (1989) The Scottish economy [June 1989]. Quarterly Economic Commentary, 14 (4). pp. 13-53. ISSN 2046-5378

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The latest CBI Industrial Trends Survey and the Scottish Chambers' Business Survey (SCBS)were carried out between March and April and between April and May respectively. The results of both surveys refer to the first quarter of 1989, against a background of sliding sterling, high interest rates, and rising inflation. It is perhaps not surprising that the SCBS, which was more optimistic than the CBI survey in the last report, reserves a cautious view on the immediate outlook for the Scottish economy, particularly for the manufacturing industry. The CBI survey shows a continuing fall in business confidence for the second consecutive survey.