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Scottish economy outpaces UK on manufacturing surge

Scottish economy outpaces UK on manufacturing surge

The Scottish economy outpaced the UK's over the first quarter, powered by strong activity in manufacturing.

The Telegraph reported that the country grew 1% in the first quarter, according to data from the Scottish government. GDP was boosted by a 2.1% rise in industrial production, as factory ouptut increased 3.4%. Construction contracted by 1%, however, while services grew by 0.9%.

In comparison UK GDP rose 0.8% in the first quarter.

The figures show that the UK had to cope with a more profound recession, with a peak-to-trough GDP fall of 5.2% in 2008-9, compared to 4.4% for Scotland.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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