Monthly economic brief: February 2021

Footnotes

1. Scotland: https://www.gov.scot/collections/economy-statistics/; UK: https://www.ons.gov.uk/economy/grossdomesticproductgdp; Eurozone: https://ec.europa.eu/eurostat/web/main/news/news-releases; US: https://www.bea.gov/data/gdp/gross-domestic-product

2. BICS weighted Scotland estimates: data to wave 22.

3. IHS Markit, RBS Purchasing Managers Index, December 2020.

4. IHS Markit/CIPS UK Composite PMI, January 2020.

5. https://www.gov.uk/government/collections/uk-overseas-trade-statistics-and-regional-trade-statistics#current-releases

6. BICS weighted Scotland estimates: data to wave 22.

7. The Index is between 0 and 100. Readings above 50 indicate an increase compared to the previous year, and below 50 a decrease.

8. BICS weighted Scotland estimates: data to wave 22.

9. https://www.gov.uk/government/collections/hmrc-coronavirus-covid-19-statistics

10. BICS weighted Scotland estimates: data to wave 22 https://www.gov.scot/collections/business-and-innovation-statistics/#businessimpactofcoronavirus(covid-19)survey(bics)

11. https://www.escoe.ac.uk/estimating-the-uk-population-during-the-pandemic/

12. https://www.gov.scot/collections/labour-market-statistics/

13. https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/earningsandemploymentfrompayasyouearnrealtimeinformationuk/january2021

14. https://www.gov.scot/collections/labour-market-statistics/

15. https://www.markiteconomics.com/Public/Home/PressRelease/12e0f54d2aa549ca95d8b7367c1fd2e8

16.   https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/earningsandemploymentfrompayasyouearnrealtimeinformationuk/january2021

17. https://www.gov.scot/collections/economy-statistics/#scottishconsumersentimentindicator(scsi) Due to the coronavirus pandemic, data was not collected in the last two weeks of March and in April and May. Therefore there are no results for Q2 2020.

18. https://www.gfk.com/press?countries67=countriesUnited+Kingdom&sort=-publication_display_date&searchInput

19. Source: SRC/KPMG Scottish Retail Sales Monitor

20. https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/december2020

21. https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2021/february-2021

22. https://www.imf.org/en/Publications/WEO/Issues/2021/01/26/2021-world-economic-outlook-update

23. https://www.gov.uk/government/statistics/forecasts-for-the-uk-economy-january-2021

24. Bank of England Monetary Policy Report February 2021

25. Scotland’s Economic and Fiscal Forecasts | Scottish Fiscal Commission