SCOTLAND was a “standout” performer among the UK nations and regions with its private sector economic growth in May accelerating to the fastest pace in two years, a key survey has found.
Sebastian Burnside, chief economist of Royal Bank of Scotland, said:"Although growth slowed at the UK level in May, this masked a more balanced performance geographically as business activity rose in all nations and regions for the first time in over a year. Employment growth in Scotland was third-fastest among the UK nations and regions, behind only Northern Ireland and north-west England, accelerating in May to its fastest pace in three months.
However, it highlighted a continuing decline in manufacturing, with the growth in May driven by services. Royal Bank observed that, “alongside Scotland, London was the only other area which recorded a rise in the level of outstanding business”.We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.