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| Version 2 | Version 3 |
|---|---|
| Business confidence at decade low | Business confidence at decade low |
| (about 4 hours later) | |
| Business confidence in some sectors has fallen to its lowest rate in 10 years, according to a quarterly survey. | Business confidence in some sectors has fallen to its lowest rate in 10 years, according to a quarterly survey. |
| The Scottish Chambers of Commerce warned lower orders and higher costs were now affecting companies across the board. | The Scottish Chambers of Commerce warned lower orders and higher costs were now affecting companies across the board. |
| Although the downturn was widespread, the chambers insisted it was still relatively shallow. | Although the downturn was widespread, the chambers insisted it was still relatively shallow. |
| Manufacturing firms have reported falling demand for their goods, which is at its weakest for seven years. | Manufacturing firms have reported falling demand for their goods, which is at its weakest for seven years. |
| High energy and transport costs have also hit businesses in manufacturing, construction, retail and tourism. | High energy and transport costs have also hit businesses in manufacturing, construction, retail and tourism. |
| Sectors such as energy, where Scotland is very strong, are actually doing very well Niall StuartScottish Council for Development and Industry | Sectors such as energy, where Scotland is very strong, are actually doing very well Niall StuartScottish Council for Development and Industry |
| Scottish Chambers of Commerce chief executive Liz Cameron, said: "This survey clearly demonstrates the lack of business confidence apparent in the early part of this year is now being translated into a general slowing down of the Scottish economy. | Scottish Chambers of Commerce chief executive Liz Cameron, said: "This survey clearly demonstrates the lack of business confidence apparent in the early part of this year is now being translated into a general slowing down of the Scottish economy. |
| "However, it is important to put these results into perspective. Scotland still has a positive rate of growth, employment remains robust and wage demands are steady for the moment. | "However, it is important to put these results into perspective. Scotland still has a positive rate of growth, employment remains robust and wage demands are steady for the moment. |
| "Our manufacturing sector has seen export sales holding up, with domestic orders being reported as level or rising by a majority of businesses." | "Our manufacturing sector has seen export sales holding up, with domestic orders being reported as level or rising by a majority of businesses." |
| Ms Cameron said underlying pressures on the Scottish economy were "largely internationally based". | Ms Cameron said underlying pressures on the Scottish economy were "largely internationally based". |
| She added that she was looking for action on fuel taxes from Westminster and an acceleration of public procurement opportunities from the Scottish Government. | She added that she was looking for action on fuel taxes from Westminster and an acceleration of public procurement opportunities from the Scottish Government. |
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| Why the economy is slowing down | |
| Colin Borland, from the Federation of Small Businesses, said the findings should be put into perspective. | Colin Borland, from the Federation of Small Businesses, said the findings should be put into perspective. |
| He told to BBC radio's Good Morning Scotland programme: "You have to look at this on a sector by sector basis. Our members who are working in trades which are allied to the housing market are looking at a particularly difficult time in terms of demand and in terms of costs. | He told to BBC radio's Good Morning Scotland programme: "You have to look at this on a sector by sector basis. Our members who are working in trades which are allied to the housing market are looking at a particularly difficult time in terms of demand and in terms of costs. |
| "However, there are other sectors where our members are telling us that demand is still strong - in fact some are struggling to meet demand." | "However, there are other sectors where our members are telling us that demand is still strong - in fact some are struggling to meet demand." |
| The views were echoed by Niall Stuart, from the Scottish Council for Development and Industry, who said it was not all "doom and gloom". | The views were echoed by Niall Stuart, from the Scottish Council for Development and Industry, who said it was not all "doom and gloom". |
| He added: "While house building has been badly affected and financial services looks like it is going to go through a tough time, sectors such as energy, where Scotland is very strong, are actually doing very well because of the strong oil and gas prices at the moment." | He added: "While house building has been badly affected and financial services looks like it is going to go through a tough time, sectors such as energy, where Scotland is very strong, are actually doing very well because of the strong oil and gas prices at the moment." |