Forecast 2015: Key findings
Growth continues but pace slows
The Scottish economy has enjoyed a ‘good run’ and while growth will persist, the pace of expansion will ease. This potential deceleration is due to consumer caution in the face of interest rate increases and depleted savings, weaknesses in key European export markets and the political uncertainty currently surrounding Scotland.
Private sector leading the charge
The professional and support services sector will continue to lead growth, with output forecast to expand by 4.3% in 2015. Transport and communication (3.9%), construction (3.4%) and financial services (2.4%) are also forecast to expand faster than the economy as a whole.
Housing market is slowly on the up
House prices north of the Border are also expected to increase. However, the price of a home is due to lag behind that of the UK as a whole, meaning average Scottish homes will remain among the most affordable on the British mainland.
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