Optimism for Scottish economy
26/06/2008
Latest economic figures from Lloyds TSB Scotland indicate a slowdown but growth overall.
The bank`s Business Monitor stated that for the three-month period from March to May, 39 per cent of businesses reported an increase in turnover, 33 per cent experienced static turnover and 28 per cent a decrease in turnover, producing a net balance increase of 11 per cent.
Slow growth was seen in the production industry, which reported a net balance increase of 19 per cent. Service businesses surveyed reported a net balance of six per cent.
Credit concerns have been expressed by both industries, particularly service – the highest level of concerns in the Business Monitor`s decade-long history.
However, Lloyds TSB Scotland`s chief economist Professor Donald MacRae said: "Consumer confidence remains high enough to result in retail sales increasing at an annual rate of eight per cent."
"Claimant unemployment at 2.6 per cent remains low while house price increases in Scotland have slowed to more realistic levels," Professor MacRae added.
Yesterday Nicola Sturgeon MSP made assurances the Scottish government would work to normalising the credit market and increasing training for financial advisors. 
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