Reported today in Insider magazine the Bank of Scotland’s monthly report on the Purchasing Managers’ Index or PMI showed a rise from 52.2 to 52.7 over the last month. The figures don’t look much, at first sight, but this is, it seems, evidence of quite strong growth and the strongest since July. It suggests new orders and an increase in both the manufacturing and services sectors. See this:
‘Why is the PMI so important? One of the most reliable leading indicators for assessing the state of the U.S. economy is the PMI, formerly known as the Purchasing Managers’ Index. PMI is the headline indicator in the ISM Manufacturing “Report on Business,” an influential monthly survey of purchasing and supply executives across the United States.’
I’m assuming that this applies to Scotland too. Regular readers of this blog will know this is just another of many signs of strength in the Scottish economy. Just in the last few months we’ve had:
77% of Scotland’s small and medium-sized businesses report success as Scottish Government reports record numbers exempt from rates and in the wake of figures revealing much greater signs of distress among rUK businesses.
I know I’m repeating myself, but I think it’s important to keep on hammering away at the notion that the Scottish economy is not robust which is a common distortion in the mainstream media.
Add this to rising oil prices, massive wind-farm output and the only positive trade balance in the UK, and Scotland, we need to keep reminding everyone, is in a better situation to go independent than England is.