Business confidence in Scotland soars by 24% while it sinks 29% in non-Scottish parts of UK



From my regular source, Insider,

‘Business confidence in Scotland rose during June, according to a study. The latest barometer from Bank of Scotland found companies were 24% [more?] positive about their prospects, nine points higher than in May. Overall confidence across the UK fell by six to 29%.’

Fraser Sime of Bank of Scotland said:

‘It’s encouraging to see the gradual rise in confidence across the country leading to a boost to recruitment plans throughout Scotland. Given the economic uncertainty the country’s businesses are facing, rising confidence in one month does not mean it’s plain sailing for anyone. But the fact that the underlying trend is positive suggests firms are slowly becoming more comfortable with uncertainty as the new normal.’

Now, I’m not a businessman but isn’t capitalism all about exploiting uncertainties to make a profit?

Anyway, this is the second such report in only two days. See:

Scottish small businesses confidence at four-year-high

Presumably this confidence relates in some way to the news that, in GDP terms (limited I know), Scotland’s economy is growing twice as fast as that of the non-Scottish parts of the UK.

Scottish onshore economy grows by at least double the rate of UK

Finally, to hammer home a nail, so to speak, this is not unusual news. See these recent examples of more good news on the Scottish economy than a national broadcaster could be expected to digest:

Scottish businesses more likely to be stable than those in rest of UK: News from a parallel universe unknown to our mainstream media

Scottish Government supports economy with new business rates unique in UK

Scottish business confidence higher than in any other region of UK

‘Gales of creative destruction’ as Scottish small businesses get 50% of public sector spend? In the ‘UK’, it’s only 19%.

Business confidence high across Scotland. 80% of Highlands and Islands businesses optimistic about future



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