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Scottish Manufacturing Picks Up

Scottish Manufacturing Picks UpScottish Manufacturing Picks Up

Scottish manufacturing output grew in July after three consecutive months of decline. The economy as a whole also registered growth, albeit modest, MarketWatch reported. The Bank of Scotland’s Purchasing Managers’ Index, which is based on survey data from about 600 companies, rose from 51.2 in June to 52.2 in July (a figure above 50 indicates growth)—the highest figure since December. However, a spokesman said that the improvement was still poor in comparison to the overall UK performance—56.6. Bank of Scotland chief economist Donald MacRae said: “New orders rose in all sectors, while the pace of decline in new export orders slowed”.

Financialtribune.com