Scottish economy below expectations

According to one of the latest reports by the Scottish Chambers of Commerce, there has been a weakening in business activity in the second quarter of 2012.

This situation has to do with the wider economical crisis of the Eurozone and of course the cut backs of the UK government due to austerity measures, as well as the weaken business sentiment.

Despite the fact that the manufacturing sector did very well, the reposts indicates that it remained under the expectations. It also showed that the constructions sector remained under the expectation despite the government’s tries to keep it up, by spending more money on it.

Garry Clark said that: “The optimism evident at the beginning of 2012 is less evident now, and the signs, both internationally and at home, are of a slowdown and return to negative growth.”

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