Scottish economic bulletin: March 2025

Footnotes

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

2 Consumer price inflation, UK - Office for National Statistics

3 Bank Rate reduced to 4.5% - February 2025 | Bank of England

4 NatWest UK Regional Growth Tracker – January 2025 | NatWest Group

5 Scottish Business Monitor Q4 2024 | FAI

6 Business and innovation statistics - gov.scot (www.gov.scot)

7 Producer price inflation, UK Statistical bulletins - Office for National Statistics (ons.gov.uk). Prices of goods bought and sold by UK manufacturers, including price indices of materials and fuels purchased and factory gate prices.

8 NatWest UK Regional Growth Tracker – January 2025 | NatWest Group

9 Scottish Business Monitor Q4 2024 | FAI

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

11 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.

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

13 Nomis - Official Census and Labour Market Statistics (nomisweb.co.uk)

14 Online job advert estimates - Office for National Statistics

15 Textkernel new online job adverts - Office for National Statistics

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

17 Monthly Decision Maker Panel data - December 2024 | Bank of England

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

19 Consumer confidence up two points in February - NIQ

20 Retail sales, Great Britain - Office for National Statistics

21 Monthly Direct Debit failure rate and average transaction amount - Office for National Statistics

22 Public opinions and social trends, Great Britain: household finances - Office for National Statistics

23 Scotland’s Economic and Fiscal Forecasts – December 2024 | Scottish Fiscal Commission

24 FAI Economic Commentary Q4 2024 | FAI

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

26 Bank Rate reduced to 4.5% - February 2025 | Bank of England