World Economy

Scotland BCI Negative

Scotland BCI NegativeScotland BCI Negative

Business confidence in Scotland has dropped into negative territory for the first time in 12 months, according to the latest Grant Thornton UK survey. A score of -7 was recorded for the second quarter of 2016, well down from the 10.4 rating for the previous quarter, Machinery Market reported. Kevin Engel, Grant Thornton managing partner in Scotland, said: “It is troubling to see such a dip in confidence levels but also understandable, given the level of political and economic uncertainty facing the nation. Our findings follow a prolonged downturn in Aberdeen’s oil and gas market, which has far-reaching consequences throughout the Scottish economy”.