• The country’s economy shrinks by 6.1% following lockdown but data for a pre-pandemic period shows an earlier expansion August, 2020

    A nowcast for Scotland for the 12 months ended June 2020 on a rolling 4 quarter basis, published by the Economic Statistic Centre of Excellence (‘ESCoE’), has estimated that Scotland’s economy contracted by 6.1%. This ranked Scotland seventh in the UK and suggests the country’s economy has so far coped ‘poorer’ with the pandemic relative to the other eleven UK ‘regions’. Over the same period the East Midlands was ‘best’ with a fall of 4.5%, with London’s contraction the ‘worst’ at 7.4%; the UK’s decline according to the Office for National Statistics (‘ONS’) figures was 5.3%. ESCoE is a partnership of research...