ANY hope of brighter economic prospects for Scotland offered by a marginal drop in the unemployment rate from 8.1% to 8% and a rise in the number in work was immediately dampened by confirmation that the Scottish economy, like that of the UK, is officially in a double-dip recession.
ANY hope of brighter economic prospects for Scotland offered by a marginal drop in the unemployment rate from 8.1% to 8% and a rise in the number in work was immediately dampened by confirmation that the Scottish economy, like that of the UK, is officially in a double-dip recession.
Custom byline text:
Alex Salmond's claim that the Scottish economy was exhibiting greater resilience than the UK is true over the last three months of 2011 and the first quarter of this year when GDP in Scotland fell by 0.2% against 0.7% for the UK. However, a year-on-year comparison shows growth of 0.2% in Scotland compared with 0.6% for the UK, indicating a lagging pattern of recovery north of the Border and the fragile nature of the few green shoots in sight. That was confirmed earlier this week when the IMF again cut its growth forecast for the UK to just 0.2% for 2012 largely in anticipation of further slowdown from the eurozone crisis.
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
Digging a way out of recession
ANY hope of brighter economic prospects for Scotland offered by a marginal drop in the unemployment rate from 8.1% to 8% and a rise in the number in work was immediately dampened by confirmation that the Scottish economy, like that of the UK, is officially in a double-dip recession.
Alex Salmond's claim that the Scottish economy was exhibiting greater resilience than the UK is true over the last three months of 2011 and the first quarter of this year when GDP in Scotland fell by 0.2% against 0.7% for the UK. However, a year-on-year comparison shows growth of 0.2% in Scotland compared with 0.6% for the UK, indicating a lagging pattern of recovery north of the Border and the fragile nature of the few green shoots in sight. That was confirmed earlier this week when the IMF again cut its growth forecast for the UK to just 0.2% for 2012 largely in anticipation of further slowdown from the eurozone crisis.
Commenting & Moderation
We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
MOST READ
SPONSORED LINKS
MOST COMMENTED