As the Scottish Retail sales Index figures are announced today, showing a drop in the last quarter of 0.3% but an overall annual increase of 0.6%, Scottish Chambers of Commerce Chief Executive Liz Cameron commented:
“This latest set of figures confirm the Scottish Chambers of Commerce current analysis of where our economy is just now – generally somewhat flat, with marginal growth and dips. This is borne out by recent GDP and employment figures and is illustrated by the findings of our Quarterly Business Survey published last month.
“Retail has not had the easiest time of it as a sector so it is heartening to see that over the year, there was some growth. Decreasing inflation means that even though the value of retail sales may not increase so quickly, the impact on consumer spending combined with strengthening Scottish employment rates should see the sales volume begin to show improved growth going forward.
“While we welcome government moves towards increasing capital spending to drive job creation, or encouraging bank lending to enable small business growth, there remains more that could be done to boost our country’s economy. The UK government needs to be strategic about its initiatives, focussing them into a coherent strategy for growth. The Scottish Government, too, still has further economic levers it can employ – for example, by ensuring that when the public sector buys goods and services, its own procurement spend is used to support businesses and jobs locally.”