Wednesday, January 04, 2024
Scottish economy slows over the autumn
The latest edition of the Lloyds TSB Business Monitor for the three months ending November 2005 shows 38 per cent of firms surveyed reporting an increase in turnover, 32 per cent reporting static turnover and 30 per cent reporting a decrease, giving a net balance of +8 per cent, significantly down from the previous quarter's +17 per cent and the +32 per cent of the same quarter a year ago.
Notably, service businesses have experienced the same slowdown as production businesses. The net balance figure for turnover for service businesses for the latest three months was +9 per cent compared with +5 per cent for production businesses. In the previous quarter the figure for services stood at +23 per cent and for manufacturing +17 per cent.
Expectations for turnover for the next six months have fallen markedly in the service sector. With a net balance of just +6 per cent, this is the fifth lowest level of expectation in service businesses in almost eight years of the Business Monitor. Production businesses were in fact rather more positive with a net balance of +19 per cent.
Notably, service businesses have experienced the same slowdown as production businesses. The net balance figure for turnover for service businesses for the latest three months was +9 per cent compared with +5 per cent for production businesses. In the previous quarter the figure for services stood at +23 per cent and for manufacturing +17 per cent.
Expectations for turnover for the next six months have fallen markedly in the service sector. With a net balance of just +6 per cent, this is the fifth lowest level of expectation in service businesses in almost eight years of the Business Monitor. Production businesses were in fact rather more positive with a net balance of +19 per cent.
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