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HIGHER THAN EXPECTED GROWTH IS WELCOME SHOT IN THE ARM FOR SCOTTISH ECONOMY

[ 20-10-2010 ]

Commenting on the news that Scottish GDP grew at the rate of 1.3% in the second quarter of 2010, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 
 
“The news that Scotland’s economy grew at a faster than expected rate of 1.3% in the second quarter of this year is very welcome indeed.  This is the highest quarterly rate of growth for many years and even outstrips UK growth over the same period. 
 
“Whilst we must still remain cautious as to the outlook for the second half of this year, the fact that the economy grew so sharply ought to provide some protection against any slowdown in the economy in the third quarter.  There remains widespread apprehension over the effects of the public spending cuts in the coming months and years, but these results prove that the Scottish economy has an underlying strength and resilience that ought to stand us in good stead for the challenges ahead.”

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