MOSCOW, September 30 (RIA Novosti) – The Bank of Scotland reported that the Scottish economy is continuing to recover, reaching pre-recession levels, the BBC reports.
Bank of Scotland’s latest Business Monitor report shows overall turnover trends have been at their highest level in last seven years during the three months prior to August. The report surveyed the responses of 413 businesses, the Daily Record and Sunday Mail said.
The survey reveals that 49 percent of the firms surveyed reported an increase in turnover, 32 percent stated turnover remained flat, while only 19 percent reported a decrease.
“This is the best result in over seven years and returns the net balance figure to pre-recession levels”, the report stated.
Most importantly, however, financial experts predict the Scottish economy will continue to grow further throughout 2014 and into 2015, the Daily Record said.
“The surge in economic activity identified in summer 2013 has been maintained into summer and autumn this year”, said Donald MacRae, chief economist at the Bank of Scotland, as quoted by the BBC.
