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Jobs blow as Scots economy returns to growth territory

Sterling Cash, Scotland Private Sector Returns to Growth Last Month - Santander UK

Scotland's private sector returned to growth territory last month amid an upturn in new business, but staffing numbers fell for the first time in five months, raising questions over the resilience of the economic recovery. Despite the growth in both output and new work, the latest Bank of Scotland PMI also reveals a further deterioration in backlogs of work north of the border, where economic growth has been lagging the rest of the UK. The seasonally adjusted activity index edged up to 50.3 in December from 49.8 a month earlier. Bank of Scotland said the modest rise in private sector output last month was led by service providers, as manufacturers registered a further decline in production.

 

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