This item was published during the term of a previous administration that ended in April 2007
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Scottish Economic Report
21/12/2006
The latest Scottish Economic Report - a twice yearly document that highlights performance and trends in the Scottish economy - was published today.
Findings include:
- Annual growth currently at 2.2 per cent - above its long-term annual average of 1.8 per cent
- The service sector continuing to experience robust growth - with job creation in this sector offsetting declines in the production and manufacturing sectors
- The majority of business surveys expecting the positive performance of the Scottish economy to continue into 2007
- Unemployment falling to its lowest ever level with the rate below the UK average
Deputy First Minister Nicol Stephen said:
"Growing the economy is the Executive's top priority. Today's report shows that we are continuing to move in the right direction on all of the key indicators. This is good news for business, good news for Scotland.
"Annual growth is above its long-term average, unemployment is lower than ever and employment rates are well above the EU average. The majority of businesses are predicting further growth in 2007. This suggests there is continuing confidence in Scotland's economic future.
"The challenge now is to build on the success evident in this report. There are still too many young people not in education, employment and training and private sector investment in research and development is still too low. Continuing high levels of investment in all levels of education is also vital. There is a lot to be done to ensure that the Scottish economy is internationally competitive and continues to punch above its weight."
Measuring Progress Towards a Smart, Successful Scotland was published yesterday showing that Scotland performs well in terms of the majority of key indicators and that continued progress is being made against the three themes of the enterprise strategy, in particular Skills and Learning and Global Connections.