• The Scottish economy contracts by 14% but unemployment holds steady November, 2020

    A nowcast for Scotland for the 12 months ended September 2020 on a rolling 4 quarter basis, published by the Economic Statistic Centre of Excellence (‘ESCoE’), has estimated that Scotland’s economy contracted by 6.7%. This ranked Scotland second in the UK and suggests the country’s economy has so far coped ‘better’ with the pandemic relative to the other eleven UK ‘regions’ on this metric. Over the same period the North East was ‘best’ with a fall of 6.5%, with Wales’s 11.4% contraction the ‘worst’; the UK decline according to these figures was c8%. However, the total percentage change in Scotland’s GDP relative...