Scottish business confidence soars to three and a half-year high

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According to a Bank of Scotland survey, private sector business optimism in the future is higher than it has been for 43 months. From the report:

‘New business inflows rose markedly in the manufacturing sector, supported by new customer wins and renewed export growth. In the service sector, panellists reported that successful tendering had contributed to higher order intakes. Greater staff levels enabled Scottish private sector firms to clear outstanding business. Backlogs of work were reduced in January, albeit to the softest extent since September last year. Firms took advantage of stronger demand and raised output prices in January. In fact, selling charges were increased to the sharpest extent in five months. That said, input cost inflation outstripped that of output prices to a marked degree, thereby signalling a squeeze to private sector profit margins. Cost pressures intensified in January to a nine-month high. Lastly, fresh expansions in new business and output coincided with greater private sector business confidence during January. Moreover, the degree of optimism strengthened to a 43-month high.’

http://www.lloydsbankinggroup.com/Media/Press-Releases/2018-press-releases/bank-of-scotland/bank-of-scotland-pmi-private-sector-output-increases-at-marginal-rate-in-january/

This is another strong and objective indicator of ongoing health in the Scottish economy. For others, see:

More real evidence of economic strength: number of Scots getting permanent jobs has ‘risen sharply.’

And more evidence of a strong economy: starting salaries in Scotland increase at quickest rate for more than 3 years

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2 thoughts on “Scottish business confidence soars to three and a half-year high

  1. Ludo Thierry February 12, 2018 / 5:50 pm

    Here is some great news of a small Scottish business winning awards (plural) for the quality of their product. In a ‘normal’ country this would be a case for celebration. In Scotland as part of the UK it is a case for the Westminster Home office to try to hound the successful entrepreneurs out of Scotland and to close down a thriving enterprise. See below from The National:

    THEY may be in the middle of an emotional visa battle with the UK Home Office, but Russell and Ellen Felber had cause for some celebration yesterday, as their Highland bed and breakfast picked up another award.
    The Torridon Guest House won a second Guest Review Award from travel website booking.com – given to mark properties with more than 10 reviews, which score an average of eight points and above.

    Congratulations to Mr. and Mrs. Felber and The Torridon Guest House – here’s hoping this notable award will assist the Felbers’ case for remaining in the Scotland they are so committed to.

    Talking of awards – Here’s hoping the brilliant film documentary ‘London is Calling’ (co-starring Prof. John Robertson) wins the 2 Wincott Prize categories for which it has been nominated.

    More good news for the Scottish economy now that the Scottish Govt. is taking over ‘management’ responsibility for the Scottish Crown Estate. This is a complex piece of legislation that is being steered through the Scottish Parlt. right now and SPiCE have prepared a useful short briefing paper for the interested public: see link below:

    https://spice-spotlight.scot/2018/02/09/what-is-next-for-the-scottish-crown-estate/

    Like

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