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Scottish economy outpaces UK on manufacturing surge
by Danielle Levy on Jul 17, 2014 at 07:48
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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As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
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