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Scotland Escapes Recession

Scotland Escapes RecessionScotland Escapes Recession

Scotland’s economy defied gloomy expectations to grow by 0.8% during the first quarter of the year. Economic output was better than expected thanks to a boost in the manufacturing sector, statistics published by Scotland’s Chief Statistician show, BBC reported. Scottish government ministers were braced for bad news after experts warned last week that the chance of a Scottish recession was “in the balance”. Growth had shrunk by 0.2% in the previous quarter and two consecutive periods of negative growth would have left the country in recession. But the 0.8% growth is four times the rate of UK GDP growth over the same period.

 

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