Publication - Research and analysis

Monthly economic brief: August 2020

Published: 14 August 2020
Directorate: Chief Economist Directorate
Topic: Economy
ISBN: 9781839607752

Provides a summary of latest key economic statistics, forecasts and analysis on the Scottish economy.

Footnotes

1. Scotland: https://www.gov.scot/collections/economy-statistics/; UK: https://www.ons.gov.uk/economy/grossdomesticproductgdp; Eurozone: https://ec.europa.eu/eurostat/documents/2995521/11156775/2-31072020-BP-EN.pdf/cbe7522c-ebfa-ef08-be60-b1c9d1bd385b US: https://www.bea.gov/data/gdp/gross-domestic-product

2. ONS Business Impacts of COVID-19 Survey, Wave 10, 13 – 26 July. https://www.ons.gov.uk/businessindustryandtrade/business/businessservices/bulletins/coronavirusandtheeconomicimpactsontheuk/latest

3. IHS Markit, RBS Purchasing Managers Index, July 2020. https://www.markiteconomics.com/Public/Home/PressRelease/82cb776e2fd44e2aaa134ae7eda23cc2

4. The IHS Markit Purchasing Managers Index is between 0 and 100. Readings above 50 indicate an increase compared to the previous month, and below 50 a decrease.

5. https://www.gov.uk/government/statistics/regional-trade-in-goods-statistics-by-month-april-2020

6. HMRC UK Trade data for Scottish Ports

7. ONS Business Impacts of COVID-19 Survey, Wave 10, 13 – 26 July. https://www.ons.gov.uk/businessindustryandtrade/business/businessservices/bulletins/coronavirusandtheeconomicimpactsontheuk/latest

8. https://www.gov.scot/publications/monthly-business-turnover-index-june-2020/ The Index is between 0 and 100. Readings above 50 indicate an increase compared to the previous year, and below 50 a decrease.

9. ONS Business Impacts of COVID-19 Survey, Wave 10, 13 – 26 July. https://www.ons.gov.uk/businessindustryandtrade/business/businessservices/bulletins/coronavirusandtheeconomicimpactsontheuk/latest

10. ONS Business Impacts of COVID-19 Survey, Wave 10, 13 – 26 July. https://www.ons.gov.uk/businessindustryandtrade/business/businessservices/bulletins/coronavirusandtheeconomicimpactsontheuk/latest

11. https://www.addleshawgoddard.com/globalassets/insights/general/scottish-business-monitor-summer-2020/scottish-business-monitor-q2-2020.pdf

12. https://www.gov.uk/government/statistics/coronavirus-job-retention-scheme-statistics-july-2020

13. ONS Business Impacts of COVID-19 Survey, Wave 10, 13 – 26 July. https://www.ons.gov.uk/businessindustryandtrade/business/businessservices/bulletins/coronavirusandtheeconomicimpactsontheuk/latest

14. The labour Force Survey account for furloughed workers as employed, but temporarily away from work.

15. https://www.gov.scot/collections/labour-market-statistics/

16. https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/coronavirusandtheeffectsonuklabourmarketstatistics/2020-05-06

17. https://www.gov.scot/collections/labour-market-statistics/

18. https://www.markiteconomics.com/Public/Home/PressRelease/2e506f90094e4c63ae4f37c082925c83

19. https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/earningsandemploymentfrompayasyouearnrealtimeinformationuk/august2020

20. https://www.gfk.com/en-gb/press/UK-Consumer-Confidence-holds-steady-for-July?hsLang=en-gb