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SCC QBS - A Good Summer for Scottish Business

[ 16-07-2009 ]

Scottish Chambers of Commerce have today (Thursday) released their Business Survey results for the second quarter of 2009.  The survey, conducted in conjunction with the University of Strathclyde’s Fraser of Allander Institute, reveals more widely based evidence that the sharp decline in business activity of recent months is coming to an end.
 Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
“Scottish businesses have had a tough year but our latest survey reveals clear signs that the pace of the recession is slowing down.  In tourism, optimism has reached its highest level for 18 months, whilst in wholesale distribution, the results are the best since the third quarter of 2006.  In manufacturing and construction the sharp declines in business confidence in the past nine months have slowed markedly. Whilst it is too early to say that the worst of the recession is over, it would certainly seem that the first stage of the recession, characterised by the effects of business pessimism, may be ending, although more general signs of recovery are still some time away 
“The recent good weather has undoubtedly had a positive impact on the Scottish tourism sector.   Occupancy rates are up on last summer and while discounting is still widespread, more in the hospitality industry are looking forward with greater optimism than they have been experiencing over the past 18 months.  There are also welcome signs of higher levels of activity in the construction sector, with the emergence of new contracts, particularly from the public sector.
“In manufacturing there were positive trends in both the food & drink industry and in the textiles & related sectors.
“The sharp decline in the Scottish economy over the previous nine months appears to be coming to an end, and there are more encouraging signs across most sectors.  However the improved trends are the result of businesses working extremely hard coping with reduced margins and pressures on profitability.  Demand still remains weak and uncertain, cash flow remains particularly tight and this underlines the need for continued access to finance and credit insurance on reasonable terms.  The Scottish and UK Governments’ need to maintain their efforts to ensure that public sector payments to contractors and suppliers are made within 10 days.”

Click here to view full report.