Scottish economic growth to remain ahead of the UK average in 2019

March 22nd, 2019 | Posted in: News

Scotland’s economic growth will slow this year but remain ahead of the UK average according to UK Economic Outlook report by PricewaterhouseCoopers (PwC).

It says that growth in Scotland is to drop from 1.4% in 2018 to 1.2% in 2019, but this will still be ahead of the 1.1% forecast for the UK. PwC then predicts that GVA growth – gross domestic product with taxes and subsidies taken into account – will increase to 1.6% in 2020. Out of 12 nations and regions analysed by PwC, only the South East of England is predicted to grow at a faster rate than Scotland this year while Scottish growth is expected to match London and the South West.

Lindsay Gardiner, PwC Scotland Regional Chairman, said, “While there are undoubted challenges affecting the UK, it is encouraging to see the Scottish economy among the most resilient parts of the country.

“In spite of the ongoing uncertainty over the UK’s future relationship with Europe, we are continuing to see investment in the private and public sectors, with City Deals funding across the country set to play an important role in Scotland’s near-term development.

“Scotland’s GDP grew by 1.4% compared to 2017, the same as the UK so the outlook for the current year, albeit in GVA terms, suggestions a slight contraction as macro-economic factors relating to Brexit come to a head, before growth accelerates to 1.6% in 2019.”

The forecast follows the latest GDP figures which showed a rise of 0.3% in Scotland from October to December – the eighth consecutive quarter of economic growth. The rise was above the 0.2% recorded for the UK as a whole over the period, as the economy slowed.


It’s time to vote for Pub of the Year 2019 or to get your customers to vote for you

Thu 18th April 2019

This year the Sunday Mail Pub of the Year Award will go to the ‘best of the best’ at this year’s Scottish Bar and Pub Awards. This... Read more.

Do you think you know the best cocktail bar in Scotland or do you think you ARE the best Cocktail Bar in Scotland?

Thu 18th April 2019

If so why not enter the Tia Maria Cocktail Bar of the Year category at this year’s Scottish Bar and Pub Awards? Judges will be looking... Read more.

Are you a social media savvy business?

Thu 18th April 2019

Social Media is very important when it comes to promoting your business and hollicom and the Scottish Bar and Pub awards 2019 want to hear f... Read more.

Which Scottish beer bar is king?

Thu 18th April 2019

Molson Coors and Judges from the Scottish Bar and Pub Awards are looking for Beer Bar of the Year. will be looking for an outlet with a rang... Read more.

Step forward Scotland’s best new bar

Thu 18th April 2019

Kopparberg is on the lookout for Scotland’s best new bar as part of the Scottish Bar and Pub Awards 2019. The Kopparberg team is looking f... Read more.

Calling all environmentally conscious hospitality businesses

Thu 18th April 2019

Sea Change is a range of environmentally conscious wines that are now being distributed by Inverarity Morton and this year, in the same spir... Read more.

Do you run Scotland’s best Hotel Bar? Would you like to nominate one?

Thu 18th April 2019

Hotel Scotland, Scotland’s only dedicated hotel publication, is on the lookout for Hotel Bar of the Year as part of the Scottish Bar and P... Read more.

We want to hear from you if you run Scotland’s best whisky bar

Thu 18th April 2019

Gordon & MacPhail’s Connoisseur’s Choice range gives a platform to many of Scotland’s single malt distilleries from across all reg... Read more.

We’re looking to crown Scotland’s best casual dining experience

Thu 18th April 2019

The Scottish Bar and Pub Awards 2019 is looking for a restaurant that also boasts a bar, that has created the perfect ambiance and food offe... Read more.

Which Scottish pub excels at customer service?

Thu 18th April 2019

Customer service is paramount when it comes to running a successful business. BII Scotland is on the lookout for a pub, restaurant or hotel ... Read more.

Which Scottish pub wins the woof and wag test?

Thu 18th April 2019

The Scottish Bar & Pub Awards is hunting for a pub that provides a welcome for pet dogs.... Read more.

Desperately Seeking the Greatest Scottish Bars and Pubs

Thu 18th April 2019

Scotland’s home to some of the best pubs and bars in the world but ‘which bars and pubs have made an impression on Scottish cust... Read more.

Do you know a budding Scottish entrepreneur? Are you one?

Thu 18th April 2019

Buzzworks and Flow are partnering to offer one emerging entrepreneur the opportunity to be mentored by one of the industry’s most experien... Read more.

Sue Says! Straight talking from our very own publisher

Thu 18th April 2019

Research from Rotary Great Britain claims that more than half of all UK adults are lonely, particularly when they get home from work. Perhap... Read more.

HIGH FRYERS: SCOTLAND’S CHEF-PATRONS MAKING THEIR MARK ON THE SCOTTISH CULINARY SCENE

Thu 18th April 2019

NEIL FORBES Cafe St Honore, Edinburgh and JUDITH FISH The Applecross Inn, Strathcarron... Read more.

Scottish hospitality industry unites to demand fair rates for all

Wed 17th April 2019

Glasgow’s hospitality industry has been unfairly discriminated against by rates assessors. That’s the view of industry bodies, Scottish ... Read more.

ABERDEENSHIRE GIN WINS GOLD AT WORLD SPIRITS COMPETITION

Wed 17th April 2019

HRAFN GIN  has won a Gold Medal at the San Francisco World Spirits Competition. HRAFN GIN ‘Thought & Memory’, created in 2... Read more.

HIGH FRYERS: SCOTLAND’S CHEF-PATRONS MAKING THEIR MARK ON THE SCOTTISH CULINARY SCENE

Wed 17th April 2019

Here are the first two, FRED BERKMILLER OF l’escargot bleu, Edinburgh and MARK GREENAWAY Grazing by Mark Greenaway, Edinburgh.... Read more.

Star Pubs & Bars extend recycling agreement to leased estate

Tue 16th April 2019

Star Pubs & Bars is offering its leased pubs the same commercial terms for recycling and waste collection it has negotiated for its Just... Read more.

British Embassy adds Edinburgh chef to the menu in South America

Mon 15th April 2019

Edinburgh chef, Barry Bryson, is representing Scotland in a series of  events hosted by the British Embassy in Uruguay, South America, ... Read more.