Information

Monthly economic brief: July 2022

The monthly economic brief provides a summary of latest key economic statistics, forecasts and analysis on the Scottish economy.

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Footnotes

1 GDP Monthly Estimate: May 2022 - gov.scot (www.gov.scot)

2 IHS Markit, RBS Purchasing Managers Index: Royal Bank of Scotland PMI report for June 2022 | Royal Bank of Scotland (rbs.co.uk)

3 S&P Global/CIPS, Flash UK Composite PMI: (spglobal.com)

4 BICS weighted Scotland estimates: data to wave 59 - gov.scot (www.gov.scot)

5 BICS weighted Scotland estimates: data to wave 59 - gov.scot (www.gov.scot)

6 Labour Market Trends: July 2022 - gov.scot (www.gov.scot)

7 Earnings and employment from Pay As You Earn Real Time Information, UK - Office for National Statistics (ons.gov.uk)

8 Labour Market Trends: July 2022 - gov.scot (www.gov.scot)

9 Royal Bank of Scotland PMI report for June 2022 | Royal Bank of Scotland (rbs.co.uk)

10 Online job advert estimates - Office for National Statistics (ons.gov.uk)

11BICS weighted Scotland estimates: data to wave 59 - gov.scot (www.gov.scot)

12 The rates of earnings growth during the pandemic need to be interpreted with caution as base effects, compositional factors and the furlough scheme have all influenced the data.

13 Earnings and employment from Pay As You Earn Real Time Information, UK - Office for National Statistics (ons.gov.uk)

14 The latest consumer sentiment survey was undertaken between 1 – 27 June 2022.

15 Scottish Consumer Sentiment Indicator : Monthly Data - gov.scot (www.gov.scot)

16 Retail sales, Great Britain - Office for National Statistics (ons.gov.uk)

17 GDP Quarterly National Accounts: 2022 Quarter 1 (January to March) - gov.scot (www.gov.scot)

18 Money and Credit - June 2022 | Bank of England

19 Consumer price inflation, UK - Office for National Statistics

20 Producer price inflation, UK - Office for National Statistics (ons.gov.uk)

21 Bank Rate increased to 1.25% - June 2022 | Bank of England

22 World Economic Outlook Update, July 2022: Gloomy and More Uncertain (imf.org)

23 Forecasts for the UK economy - GOV.UK (www.gov.uk)

24 Scotland’s Economic and Fiscal Forecasts – May 2022 | Scottish Fiscal Commission

25 https://fraserofallander.org/publications/fai-economic-commentary-2022-q2/

Contact

Email: OCEABusiness@gov.scot

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