ACTION NEEDED TO SECURE SCOTTISH BUSINESS GROWTH IN 2011
[ 20-01-2011 ]
Scottish Chambers of Commerce have today (Thursday) released their Business Survey results for the fourth quarter of 2010. The survey, conducted in conjunction with the
“Our survey shows that the slowdown of the economic recovery we noted in the third quarter of 2010 continued to the end of the year. Whilst the severe December weather clearly had an impact on activity, there are a number of more important issues affecting Scottish business that require to be addressed in 2011 if the recovery is to continue and strengthen.
“On the positive side, the Scottish manufacturing sector continues to perform strongly, with exports holding up particularly well. This reinforces the importance of the sector in leading an export led recovery and highlights the need to continue efforts to boost international trade links for Scottish business. However other sectors continue to experience challenging trading conditions and there remains no sign of any general economic upturn in the near future.
“Business confidence remains weak across the board and it is clear that the cuts in public spending are having an increasing impact on trade and future expectations. There is evidence that those businesses which work with the public sector are more pessimistic than those which predominantly trade with the private sector.
“2011 will be a year in which both businesses and consumers will have to manage rising inflation as a result of the VAT increase and higher energy, transport and raw material costs. Against this background, businesses and consumers are looking for the
Click here to view the quarter 4 results.
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