News: 14th January 2013

Small businesses are among those in Scotland experiencing growth in private sector activity, according to new research out today (January 14th).

Bank of Scotland's latest PMI report showed that output levels increased in December at the quickest rate since June, with new business success thought to be a large part of this.

Furthermore, businesses were also found to increase job numbers at the quickest rate for five months in December, suggesting conditions are continuing to improve.

Donald MacRae, Chief Economist at Bank of Scotland, said that the PMI showed a "welcome rise" to reflect moderate growth north of the border.

He said: "The increase in new business and the rise in employment are particularly encouraging. The pickup in new export orders should enable a return to growth in the manufacturing sector in the coming months.

"These results give hope that the Scottish economy has exited the recent period of slowdown and is entering 2013 in growth mode."

However, research from R3 showed last week that the majority of UK firms are expecting to report a decrease in profits over the coming months.

Posted by Thomas Fletcher