Outlook and appraisal [August 1985]

Love, James and Basu, Dipak and Blackhall, John and Chalmers, Margaret and Draper, Paul and Heeley, John and Jenkins, Iain and Lockyer, Cliff and Love, Jim H and McGilvray, James and McGregor, Peter and McVey, Mike and O'Donnell, Noreen and Simpson, David and Tait, Elizabeth and Walker, Jim (1985) Outlook and appraisal [August 1985]. Quarterly Economic Commentary, 11 (1). pp. 1-2. ISSN 2046-5378

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Abstract

The most recent Scottish Business Survey reports a continuing rise in optimism among Scottish retailers and some cautious improvement for manufacturers. In line with the recent resurgence in consumers expenditure at the national level, Scottish retailers are enjoying considerable increases in sales volumes. The more cautious view among manufacturers probably reflects concern over the apparent reduction in the relative importance of export markets as a source of new orders and sales . Sterling's appreciation, to a level forecast late last year by the Fraser of Allander Institute, place s Scottish manufacturers under greater competitive pressure abroad (and domestically) and adds an element of fragility to the recovery of output. Scottish wholesalers and, particularly, construction companies are less optimistic about business conditions. In the latter case, the major cause continues to be the decline in orders from the public sector.

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