{"id":1060,"date":"2017-07-05T21:00:46","date_gmt":"2017-07-05T21:00:46","guid":{"rendered":"http:\/\/www.imadscotlandgroup.com\/media\/?p=1060"},"modified":"2017-07-11T21:02:37","modified_gmt":"2017-07-11T21:02:37","slug":"1060-2","status":"publish","type":"post","link":"https:\/\/www.imadscotlandgroup.com\/media\/1060-2\/","title":{"rendered":"Scotland\u2019s economy bounces back"},"content":{"rendered":"

Oil and Gas stabilises as economy grows by 0.8%.<\/p>\n

(Article via www.gov.scot)<\/strong><\/p>\n

Expansion in the manufacturing sector has helped the Scottish economy to grow by 0.8% – the highest rate of quarterly growth in Scotland since the end of 2014, new figures reveal.<\/p>\n

The positive growth figures show the Scottish economy rebounding from negative growth in the previous quarter \u2013 with a growth rate for the first quarter of 2017 that is four times the UK wide rate for the same quarter.<\/p>\n

Statistics announced by Scotland\u2019s Chief Statistician show:
\n\u2022The Scottish economy grew by 0.8% in the first quarter of 2017. UK quarterly growth in the first quarter of 2017 was 0.2%
\n\u2022In the first quarter of 2017, services in Scotland grew by 0.3%, production grew by 3.1%, and construction contracted by 0.7%
\n\u2022Output in the metals industry, which includes much of the oil and gas supply chain, was up significantly. This follows the re-opening of the Dalzell steel plant after Scottish Government intervention to secure its future, and recent business survey evidence that output in the oil and gas supply chain may be stabilising.<\/p>\n

Economy Secretary Keith Brown said:<\/p>\n

\u201cToday\u2019s figures are welcome and reinforce the fact that the fundamentals of Scotland\u2019s economy are strong. Scotland\u2019s output is now 6% above the pre-recession level and unemployment is at its lowest ever level.<\/p>\n

\u201cSince late 2014 our growth rate has been impacted significantly by the fortunes of the North Sea with around two thirds of the slowdown in 2016 attributed to the onshore impact of lower oil prices. Today\u2019s figures show a rise in output in industries linked to the North Sea for the first time since 2014. While there is no room for complacency, these figures – alongside a number of recent business surveys – indicate that there is growing confidence in the sector.<\/p>\n

\u201cManufacturing output is also up, in part due to the resumption of steel production at the Dalzell plant after the Scottish Government intervened to save this key strategic asset. The re-opening of Dalzell is just one of the actions the Scottish Government is taking to boost manufacturing – we are also supporting expansion of the aluminium smelter at Lochaber and the development of a new manufacturing centre in Renfrewshire.<\/p>\n

\u201cWhile today\u2019s figures are positive, we will continue to do everything possible to support the performance of Scotland\u2019s economy, particularly as Brexit uncertainty continues to cast a shadow over the future economic outlook. The Scottish Government will continue to use all of the powers at our disposal, including our \u00a36.5bn infrastructure plan and our new \u00a3500 million Scottish Growth Scheme which opened for bids last month. We will also continue to invest in the doubling of free childcare and offer support for key industries including oil and gas, manufacturing, tourism and new technologies.<\/p>\n

\u201cToday\u2019s figures are a welcome vote of confidence in our economy and the Scottish Government will continue to work hard to support it through difficult times ahead.\u201d<\/p>\n

GDP Statistics announced by Scotland\u2019s Chief Statistician http:\/\/www.gov.scot\/Topics\/Statistics\/Browse\/Economy\/PubGDP\/GDP2017Q1\/DOCS<\/a><\/strong><\/p>\n


\nArticle Source: https:\/\/news.gov.scot\/news\/scotlands-economy-bounces-back<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Oil and Gas stabilises as economy grows by 0.8%. (Article via www.gov.scot) Expansion in the manufacturing sector has helped the Scottish economy to grow by 0.8% – the highest rate of quarterly growth in Scotland since the end of 2014, new figures reveal. The positive growth figures show the Scottish economy rebounding from negative growth in the previous quarter \u2013 with a growth rate for the first quarter of 2017 that is four times the UK wide rate for the same quarter. Statistics announced by Scotland\u2019s Chief Statistician show: \u2022The…<\/p>\n","protected":false},"author":1,"featured_media":812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/posts\/1060"}],"collection":[{"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/comments?post=1060"}],"version-history":[{"count":2,"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/posts\/1060\/revisions"}],"predecessor-version":[{"id":1062,"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/posts\/1060\/revisions\/1062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/media\/812"}],"wp:attachment":[{"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/media?parent=1060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/categories?post=1060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imadscotlandgroup.com\/media\/wp-json\/wp\/v2\/tags?post=1060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}