Bank of Scotland economic report indicates manufacturing strength

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Bank of Scotland economic report indicates manufacturing strength

Mon 12th Jul 2010

The latest Bank of Scotland economic report has revealed record growth in the manufacturing sector in terms of output, while busier activity levels with clients saw a small climb in the number of new order volumes throughout June.

Although these increases were not as strong as those seen in May - or in terms of the whole of the UK - it represents the 11th rise in the past year.

And, in June, private sector employment in Scotland went up for the fifth consecutive month.

"While the pace of input cost inflation faced by businesses moderated, average costs again inflated at a much stronger pace than the UK," said chief economist Donald MacRae, adding that the Bank of Scotland economic report suggested that recovery in Scotland is underway, but at a slower pace than the rest of the UK.

This comes after the organisation published a report stating that private sector activity climbed in May, recording the fastest overall output growth in three months.

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