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Economy 'recovering but fragile' Economy 'recovering but fragile'
(about 7 hours later)
Scotland's economic recovery is under way but remains at a "fragile" stage, a report has suggested.Scotland's economic recovery is under way but remains at a "fragile" stage, a report has suggested.
The latest Scottish Chamber of Commerce survey found that manufacturers were becoming more optimistic and the tourist trade had a good summer.The latest Scottish Chamber of Commerce survey found that manufacturers were becoming more optimistic and the tourist trade had a good summer.
But it said investment intentions in the manufacturing sector remain weak.But it said investment intentions in the manufacturing sector remain weak.
The report, which covers the three months from July to September, also found less pessimism in the construction and retail sectors.The report, which covers the three months from July to September, also found less pessimism in the construction and retail sectors.
The survey - which was conducted with Strathclyde University's Fraser of Allander Institute - said there have been "clear signs" of an emerging recovery in manufacturing, with more orders and sales.The survey - which was conducted with Strathclyde University's Fraser of Allander Institute - said there have been "clear signs" of an emerging recovery in manufacturing, with more orders and sales.
'Discount rates''Discount rates'
Although domestic demand remained weak the SCC said there has been a strengthening in export orders.Although domestic demand remained weak the SCC said there has been a strengthening in export orders.
Scottish Chambers of Commerce chief executive Liz Cameron said the tourist sector appeared to have had a good summer with strong trends in domestic demand.Scottish Chambers of Commerce chief executive Liz Cameron said the tourist sector appeared to have had a good summer with strong trends in domestic demand.
However, she said overseas demand could be "a little weak", particularly in the Year of Homecoming.However, she said overseas demand could be "a little weak", particularly in the Year of Homecoming.
"Occupancy rates are similar to 2008, but many tourist businesses have had to discount room rates and further discounting is likely over the winter months," she said."Occupancy rates are similar to 2008, but many tourist businesses have had to discount room rates and further discounting is likely over the winter months," she said.
Ms Cameron claimed the report provided "strong evidence" that the first signs of recovery noted in its July survey were developing into something more tangible.Ms Cameron claimed the report provided "strong evidence" that the first signs of recovery noted in its July survey were developing into something more tangible.
"However this recovery remains fragile and is not evident in all sectors," she added."However this recovery remains fragile and is not evident in all sectors," she added.