According to latest ICAEW business confidence monitor, confidence in Scotland is now markedly higher than in the rest of the UK. Indeed, as you can see from the above chart confidence has been low for most of the last 15 months in many areas.
Over the past 12 months, export sales have grown by 3.4% and domestic sales have grown by 2.4%. In addition, profits are expected to rise 5.3% in the next year. These two factors will, in part, have lead to increased business confidence in the first quarter of 2018. Finally, R&D budgets have risen by 3.1%, 0.7% higher than the UK average.
This report follows, and seems to confirm, two very positive earlier survey reports, from the Bank of Scotland and the CBI, in February 2018. See:
BBC Reporting Scotland will be all over this, won’t they?