Scotland’s economy is expected to continue to grow in 2018, despite ongoing Brexit uncertainty, with stronger global growth and an improved outlook for the oil and gas sector helping to support this growth.
The latest State of the Economy report published last week by Scotland’s Chief Economist also highlights:
- The economy continued to grow into the second half of 2017, although at a below trend rate.
- The Scottish labour market is performing closed to record levels in terms of employment and the rate of unemployment.
- The outlook based on independent forecasts signals positive GDP growth for 2018 of between 0.7% and 1.4%.
- Brexit remains the biggest uncertainty hampering further growth.
The State pf the Economy report is produced three times a year to provide a picture of the Scottish economy in the context of the UK and international economies.