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Scottish economy shrank 0.1% in 2011 Wednesday, 18th April 2012
Ahead of the Office for National Statistics (ONS) announcement next week, it’s been revealed that the Scottish economy contracted 0.1 per cent in the final quarter of 2011, at a third of the rate of the UK as a whole.
According to the Scotsman, the figures show a 0.2 per cent growth in the Scottish services sector, which covers the retail and hotel sectors among others.
Production remained flat, while output from the construction sector dropped 2.7 per cent.
The results come as the UK waits to hear from the ONS if the economy as a whole fell into recession over the winter months.
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Posted in Retail Industry Tagged uk, economy, scotland, scottish, ons, office, national, statistics, recession, retail, news
