The Economic Commentary provides a regular update on global, UK and Scottish economic trends, drawing on recent economic data as well as feedback from businesses.
Methods
The methodology consisted of desk research.
Findings
General sentiment - Business activity across most major global economies has been slowing or contracting over the second half of 2023 (particularly in the eurozone). However, activity performance in November indicates that the worst of the downturn may have passed.
In Scotland the economy grew by 0.1% in September and by 0.4% over Q3 (July to September). However, there are signs that the labour market weakened slightly over the year.
SE customers are cautiously optimistic, despite ongoing challenges with skills shortages, availability of suitable property and access to finance/investment for some.
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