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  • Companies return to hiring for the first time in four months
  • Business sentiment improves further
  • Output contracts during close of third quarter

 

The headline Royal Bank of Scotland Growth Tracker– a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – slipped back below the neutral threshold of 50.0 in September, posting 49.2 from 50.3 in August and signalling a slight decrease in activity.

 

Commenting on the Tracker’s findings, Judith Cruickshank, Chair, Scotland Board, Royal Bank of Scotland, said:

“September’s Regional Growth Tracker offers signs for optimism and examples of Scottish firms taking a proactive approach to the challenges business across the UK are currently facing.

“Payroll numbers in Scotland were expanded for the first time in four months and, despite intensifying cost pressures, businesses here opted to raise their charges only marginally. In fact, the rate of increase was the slowest observed since the early stages of the COVID-19 pandemic five years ago.

“Nonetheless, this positivity remains restricted mostly to services and Scottish firms are still experiencing rising cost pressures and challenges driven by weak demand conditions, prompting some to lower their charges.”

 

Please see the regional report in full:

Royal Bank of Scotland Regional Growth Tracker (PDF, 872KB)  

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