Scottish Business Monitor, 2024 Q3

Sousa, João and Gillan, Brodie (2024) Scottish Business Monitor, 2024 Q3. Fraser of Allander Institute, Glasgow.

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Abstract

This report summarises the key results from our latest Fraser of Allander Institute (FAI) Scottish Business Monitor. The survey sampled over 350 firms in August and September from across the Scottish economy, examining business sentiment in Q3 2024 and the outlook for the year ahead. In Q3 2024, business sentiment remains consistently positive. Firms are reporting an increase in employment levels, and cost pressures are easing. Recent interest rate cuts are helping a more favourable climate for investment, leading to a noticeable reduction in the challenges businesses are facing compared to this time last year. Despite these positive indicators, some challenges remain. Ongoing issues related to exports, investment, staff availability, and rising employee costs continue to pose significant hurdles for businesses. Consequently, while growth expectations are encouraging, they are somewhat tempered by these persistent concerns. As a result, one in four firms are now expecting modest growth in the Scottish economy over the coming year.

ORCID iDs

Sousa, João ORCID logoORCID: https://orcid.org/0009-0006-9842-3870 and Gillan, Brodie;
CORE (COnnecting REpositories)