STUC on Scottish GDP statistics

January 13th 2016

Responding to publication of the latest GDP statistics for Scotland, Grahame Smith, Scottish Trades Union Congress (STUC) General Secretary said:

“The best that can be said about these statistics is that GDP growth did not actually turn negative in Q3 2015. The rapid slowdown is mainly attributable to the impact of the falling oil price which shows no signs of rebounding. The unbalanced nature of the recovery has intensified with manufacturing now in technical recession. With public spending cuts further undermining demand, all the signs are that 2016 will be an intensely challenging year for the Scottish economy”.

ENDS

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