Bank of Scotland

Further fall in new business curtails output growth

14 November 2011

Data from the latest Bank of Scotland PMI signalled a further slowdown in the pace of growth of the Scottish private sector economy in October. This reflected a second successive drop in new business, with firms working through backlogs of work to sustain output growth. Businesses on balance continued to cut staff numbers, while shouldering the burden of persistently steep cost inflation by freezing tariffs.

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