Review of Scottish business surveys [June 2015]

Malloy, Eleanor (2015) Review of Scottish business surveys [June 2015]. Fraser of Allander Economic Commentary, 39 (1). pp. 38-42. ISSN 2046-5378

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    Abstract

    Business surveys are a useful tool and provide accurate and timely data that are extremely helpful in pinpointing subtle movements in the economy. Business surveys collect information on a wide range of topics such as business confidence, orders, turnover, exports, investment, employment etc. and when analysed provide a view of the overall economy. They are also useful for short term forecasting and pinpointing turning points. Many business surveys use net balances, determined by subtracting the percentage reporting declines from the percentages reporting increases. A number of recent surveys continue to show that more and more businesses report that net trends, although remaining positive, have eased somewhat (with a growing number of respondents reporting ‘no change’) and despite many of the trends reported not being quite as high as recent quarters, most remain positive and more importantly for many of the respondents to recent Business Surveys, expectations remain strong and at pre-recession levels.