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2012: SOME SIGNS OF A RECOVERY BUT DOWNSIDE THREATS REMAIN
[ 12-04-2012 ]
Scottish Chambers of Commerce (SCC) have today (Thursday) released their Business Survey results for the first quarter of 2012. The survey, conducted in conjunction with the University of Strathclyde’s Fraser of Allander Institute, reports a slight improvement in activity in the Scottish economy in the first quarter of 2012, but widespread difficulties remain for Scottish businesses.
Garry Clark, Head of Policy and Public Affairs at Scottish Chambers of Commerce, said:
“Our survey suggests that Scottish businesses have had a better start to 2012 than to last year, led by more positive indicators in manufacturing and tourism. Across all sectors, except retail, the trends in orders and sales are stronger than at the same time last year and outturns are generally ahead of expectations at the end of 2011. Businesses are now more confident as to the year ahead, but confidence varies between sectors and Scottish regions.
“Scotland’s manufacturing sector now appears to have returned to modest growth after a difficult latter half of last year, with a stronger trend in new orders and high expectations returning in terms of exporting. Importantly, our manufacturers are anticipating more positive trends in terms of both turnover and profitability. There are fewer signs of recovery in construction and clearly here more Government support is essential to stimulate demand.
“Tourism businesses reported a better than anticipated first quarter and expectations for the year ahead are at their highest levels for four years. Importantly, the return to a positive trend in daily rates means that the hospitality industry may be becoming less reliant on widespread discounting to fill accommodation. However, looking behind the tourism data reveals differences between urban and rural businesses, with concerns over the cost of transport, including ferry travel, being widely cited by rural and island businesses and this could have a material effect on their ability to attract visitors over the year ahead.
Click to view Q1 2012 Survey Results.
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