Economic Commentary [September 2021]

McGeoch, Adam and Spowage, Mairi and Cooper, Benjamin and Brocek, Frantisek and Congreve, Emma, Fraser of Allander Institute (2021) Economic Commentary [September 2021]. Fraser of Allander Economic Commentary, 45 (3). pp. 1-44. ISSN 2046-5378

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The Scottish economy is set to recover to pre-pandemic levels three months earlier than previously thought. This is according to the latest quarterly Economic Commentary from the Fraser of Allander Institute, which predicts growth of 6.5% in 2021 and 4.8% in 2022. The economy is now predicted to get back to pre-pandemic levels in April 2022. Despite growth contracting slightly in July, mainly due to a fall in renewable electricity production, growth was significantly faster during Q2 than expected, leading to forecasts for 2021 and 2022 being revised up. In the Deloitte-sponsored Economic commentary, the University of Strathclyde research institute discusses a number of risks that threaten recovery.