Scotland’s economic growth forecast for 2023 has been revised down due to the impacts of cost increases on consumers and businesses, and the likelihood that these will persist for longer than previously thought.
The latest quarterly Economic Commentary from the Fraser of Allander Institute at the University of Strathclyde forecasts growth of 3.8% in 2022 and 0.5% in 2023 - significantly worse than the last set of forecasts in March.
The Deloitte-sponsored analysis examines the latest data on the global, UK and Scottish economies, including the latest GDP, employment and inflation figures.
