Business activity on the rise in Scotland

Date: 13th September 2011

Small business owners in Scotland could be among those encouraged by the findings of a recent report.

According to figures recently published by Bank of Scotland, the country's private sector saw business activity "expand solidly" in August.

Indeed, the firm's latest purchasing managers' index (PMI) showed that manufacturing production in particular increased at the sharpest rate for four months.

The study also revealed that the services sector saw growth, albeit at a slower rate than experienced during the summer.

Donald MacRae, chief economist at Bank of Scotland, said the overall signs were positive and highlighted the resilience within the Scottish economy.

"With an eighth consecutive month of growth, this is an encouraging PMI. Growth remained solid bringing the PMI Output Index second only to London within the UK," he commented.

"This is a welcome result, suggesting the private sector of the Scottish economy grew, albeit slowly, throughout January to August this year."

Posted by Emily Smith