Scottish economic bulletin: June 2025

Footnotes

1 Economy statistics - gov.scot (www.gov.scot) , GDP monthly estimate, UK Statistical bulletins - Office for National Statistics (ons.gov.uk)

2 Due to a data error, ONS have announced that the April inflation rate was overstated by 0.1 percentage points. In line with their revisions policy, this will not be revised, but new data will be taken on for the May figures.

3 Consumer price inflation, UK - Office for National Statistics

4 Monetary Policy Report - May 2025 | Bank of England

5 NatWest UK Regional Growth Tracker – May 2025 | NatWest Group

6 BICS weighted Scotland estimates: data to wave 132 - gov.scot

7 Labour market statistics - gov.scot (www.gov.scot)

8 The ONS notes that the Labour Force Survey (LFS) estimates have been affected by increased volatility, resulting from smaller achieved sample sizes, meaning that estimates should be treated with caution, and are working towards an online-first Transformed Labour Force Survey (TLFS), which is viewed as the long-term solution to the falling response rate.

9 Earnings and employment from Pay As You Earn Real Time Information, seasonally adjusted - Office for National Statistics

10 Nomis - Official Census and Labour Market Statistics

11 Textkernel new online job adverts - Office for National Statistics

12 Earnings and employment from Pay as You Earn Real Time Information, seasonally adjusted - Office for National Statistics (ons.gov.uk)

13 Monthly Decision Maker Panel data - May 2025 | Bank of England

14 Economy statistics - gov.scot (www.gov.scot)

15 UK Consumer confidence down four points in April to -23 - NIQ

16 Retail sales, Great Britain - Office for National Statistics

17 Scotland’s Economic and Fiscal Forecasts – May 2025 | Scottish Fiscal Commission

18 Forecasts for the UK economy - GOV.UK

19 OECD Economic Outlook, Volume 2025 Issue 1 | OECD