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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. |
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