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Press Releases

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RETURN TO GROWTH WELCOME BUT CHALLENGES STILL LIE AHEAD

[ 20-07-2011 ]

Commenting on the news that Scottish GDP grew at the rate of 0.1% in the first quarter of 2011, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:

 
“The news that the Scottish economy has returned to growth, albeit marginal, in the first quarter of this year is positive.  The results of Scottish Chambers’ most recent business survey for the second quarter show improving results and we would anticipate the GDP growth rate to strengthen for that period.
 
“Our concern is that rising cost pressures on businesses through the remainder of 2011 may hinder growth in the latter part of the year.  Together with the impact of ongoing cuts in public spending, these headwinds may hold overall growth to mediocre levels for the year as a whole.”

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