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09/09/13 00:01

Boost for Scottish economy

Finance Secretary responds to Bank of Scotland PMI survey.

John Swinney said:

“The Scottish Government welcomes these figures, which show continued strengthening in Scotland’s economy, with a record rate of expansion in business activity in Scotland in August.

“Private sector output in Scotland has expanded for the eleventh consecutive month, the highest rate in the history of the PMI. The reported growth was driven by both manufacturing and services, with services in particular growing at its fastest rate in fifteen years.

“These positive results follow recent labour market and GDP figures which show Scotland is outperforming the UK in terms of employment and growth. Youth unemployment figures also continue to outperform the UK.

“Against a backdrop of continuing economic challenges the Scottish Government is taking action where we can, and we are seeing results, but there is so much more that we could be doing with the full economic and fiscal powers of independence to strengthen our economy and create jobs."