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FEW SIGNS OF A RECOVERY IN THE THIRD QUARTER AS BUSINESS WAITS FOR THE OUTCOME OF THE SPENDING REVIEW

[ 14-10-2010 ]

Scottish Chambers of Commerce have today (Thursday) released their Business Survey results for the third quarter of 2010.  The survey, conducted in conjunction with the University of Strathclyde's Fraser of Allander Institute, suggests the Scottish economy slowed in the third quarter.  
 
Garry Clark, Head of Policy and Public Affairs at Scottish Chambers of Commerce, said: 
 
"As business look towards next week's Comprehensive Spending Review, it is clear that Scotland's economic recovery is going through a very difficult phase.  There can be little doubt that ongoing uncertainty over the pace and impact of public sector cuts is sapping business confidence.  We can only hope that next week's announcement, coupled with the forthcoming Scottish Government budget, brings certainty and allows business to get on with planning for future growth. 
 
"This latest survey of business conditions in Scotland reveals that confidence has weakened across all sectors and that the positive signs which emerged earlier in the year are now less visible.   Even in manufacturing, which has performed more strongly in recent quarters, confidence, orders and expectations are falling, and export orders have eased. 
 
"Constant talk of public sector cuts is undoubtedly damaging business confidence, and it is now time to look beyond the cuts and towards building plans for future growth.  The UK and Scottish Governments have to develop strategies manage the cuts constructively, focusing on efficiency and maintaining growth in our private sector economy.  Politicians of all parties must work together, providing leadership and a long term vision for growth that recognises the prime role that the private sector must play in the recovery.  Scarce public resources must continue to be focused on delivering the capital infrastructure improvements that will bring long term benefits to Scotland and introduce new ways of working which minimise the burdens and barriers to growth. 
 
"Above all, the building of business and Government partnerships at a national and local level is critical to future success and Chambers of Commerce look forward to playing a full part in providing these solutions."

QBS THIRD QUARTER RESULTS

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