Forecasts of the Scottish economy [March 2016]
Allan, Grant (2016) Forecasts of the Scottish economy [March 2016]. Fraser of Allander Economic Commentary, 39 (3). pp. 31-43. ISSN 2046-5378
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Abstract
Economic growth in Scotland appears to have slowed towards the end of the year, partly driven by the knock-on impacts of reduced activity in the North Sea driven low a low oil price. Investment and domestic expenditure held up growth through the year as a whole, pointing to a domestically-supported growth model for the short term. Looking forward, the external environment for Scottish exports appears to have weakened since our last Commentary, in particular in developing countries, but also with downgrades to growth for the USA and the UK as a whole (with the rest of the UK being Scotland’s largest export market). Additionally, with uncertain future investment spending, slowing growth to nominal incomes and the likelihood of a continued and prolonged period of low oil prices we have revised down our forecasts for economic and job growth over the next two years.
ORCID iDs
Allan, Grant
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Item type: Article ID code: 55901 Dates: DateEvent3 March 2016Published23 February 2016AcceptedKeywords: Scottish economy, Scottish economics, Scottish economic growth, Economic Theory, Economics, Econometrics and Finance(all), SDG 8 - Decent Work and Economic Growth Subjects: Social Sciences > Economic Theory Department: Strathclyde Business School > Economics
Strathclyde Business School > Fraser of Allander InstituteDepositing user: Pure Administrator Date deposited: 15 Mar 2016 14:43 Last modified: 25 May 2023 09:43 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/55901