Coronavirus (COVID-19) - extending the Coronavirus Job Retention Scheme: analysis

Paper exploring the costs and benefits of extending the Coronavirus Job Retention Scheme on a temporary basis. Such an extension could reduce unemployment in Scotland by 61,000 through the first half of 2021, at a cost of around £850 million.

Annex A: Monthly Business Turnover Index, Scotland

The chart shows the latest Monthly Business Turnover Index for Scotland for July and shows the extent to which turnover is lower than last year overall and by sector. In July 2020, the all industry business turnover index was 28.5, up from 24.4 in June and from its recent low of 18.7 in April.

The rise in the index since April indicates that there has been a gradual increase in business activity in recent months as lockdown restrictions have eased, however total output is still notably lower than last year (50 = same as last year). Compared to last year, business turnover remains lower across both Manufacturing (35) and Service (27), however both sectors continue to strengthen over the month. Within the Services sector, Accommodation and Food Services continued to be the industry with most businesses reporting a decrease in turnover over the year, followed by Culture and Recreation Services.

A chart showing monthly turnover by sector compared to the previous year.



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