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SCC COMMENT ON SCOTTISH GDP FIGURES

[ 22-07-2009 ]

Commenting on the release of Scottish Government figures which reveal that the Scottish economy shrunk by 2.4% in the first quarter of this year, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:

 
“These figures for the beginning of this year are unsurprising and reflect the depth of the economic downturn many businesses across Scotland were experiencing at that time.  However our own surveys are now suggesting that the rate of decline may be becoming shallower and we would expect that the fall in GDP may become less steep in the second and third quarters of this year.
 
“The road to economic recovery may be lengthy, but there are signs of optimism returning to a number of business sectors.  Our hope is that these first quarter GDP figures represent a low point, and that future figures will show signs of progress.”
 

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