The EY Scottish ITEM Club
The EY Scottish ITEM Club is an extension of the UK ITEM Club, focused entirely on the Scottish economy. The ITEM Club is the only economic forecasting group to use the HM Treasury model of the UK economy. Its forecasts are independent of any political, economic or business bias.
EY Scottish ITEM Club upwardly adjusts its 2014 growth forecast in light of improved consumer confidence and an expected global economic upturn.
Scotland is enjoying its most sustained period of economic growth in three years, thanks in part to increased consumer spending.
An improving global picture has led the Scottish ITEM Club to adjust its 2013 growth forecast upward, with more growth expected for 2014 and beyond.
Scotland’s overall output decline of 4% over the past four years puts it on a par with the troubled Spanish economy.