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SLUGGISH RECOVERY UNDERLINES NEED TO SUPPORT BUSINESS
[ 26-07-2011 ]
Commenting on the news that UK GDP grew at the rate of 0.2% in the second quarter of 2011, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
“Following the news that the Scottish economy grew by just 0.1% in the first three months of this year, the news that the UK economy as a whole grew by 0.2% in the second three months gives some cause for concern. However our business survey for the second quarter did show that many Scottish businesses outside of the retail sector enjoyed some positive fortunes in the three months to June.
“Our hope is that the Scottish economy has outperformed the UK economy for this period, but we will not know for sure until the next Scottish growth figures are published in October. If we have failed to match the rate of UK growth, there is little room for manoeuvre and we may be perilously close to a further contraction in our economy. Either way, we are worried about rising cost pressures on businesses from energy, transport and raw material costs and it is imperative that Government continues to support business where it can during this sluggish recovery.”
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