News story

More encouraging economic news for Scotland

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Scotland Office Minister David Mundell comments on latest Bank of Scotland PMI report.

placeholder

There was more encouraging news for Scotland’s economy in the latest report from Bank of Scotland. The PMI report shows that employment levels are continuing to rise as does private sector business activity.

The Bank of Scotland Purchasing Manager’s Index is based on data collected from around 600 private manufacturing and service sector companies, selected to accurately replicate the true structure of the Scottish economy.

Responding to the report, Scotland Office Minister David Mundell said:

The latest PMI report provides more encouraging news for Scotland. Employment levels have risen among the fastest in the 17-year survey history and private sector business activity continues to rise solidly. Against a backdrop of a struggling eurozone economy and oil prices in steep decline, the fall in export orders show challenges remain for our businesses.

In the months ahead Scotland’s economy is expected to continue to expand and build upon a strong 2014 where we had record levels of employment and as a country we chose to retain the shared currency, pensions, single market and economic stability and security that comes from being part of the UK.

Read more about how the UK Government is growing the economy.

Published 12 January 2015