The Bank of Scotland is predicting that the economic growth in Scotland is to remain ‘subdued’ until 2008.
The factors that are holding economic growth back for the remainder of 2007 is the impact of the five-interest rate rises since the autumn of 2006 and the volatility of the financial markets.
However, consumer confidence, business optimism and a strengthening of the labour market give good indications of supporting growth in 2008.
Our view
We suggest it is the same economic picture across the whole of the UK and is just about what the Government require to keep a lid on inflation.
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