EY ITEM Club Scotland Summer Forecast 2013

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Focusing on the Scottish economy and its position in the UK, Eurozone and global market, the Scottish ITEM Club is the only Scotland-focussed non-governmental economic forecasting group to use HM Treasury’s model of the UK economy.

Summer Forecast 2013: Key findings

  • An improving global picture has led the Scottish ITEM Club to adjust its 2013 growth forecast upward, albeit it by 0.1%, with further positive growth expected for 2014 and beyond.
  • This slow growth is likely to result in small gains in average employment levels, with the labour market predicted to pick up towards 2015.
  • Scotland’s businesses are, on average, performing at least as well as their UK peers.
  • Investment in capital projects has supported Scotland’s economy to an extent, but attention must also be placed on expanding the country’s export base.