Scottish economic bulletin: February 2025

Footnotes

1. Economy statistics - gov.scot (www.gov.scot) , GDP monthly estimate, UK Statistical bulletins - Office for National Statistics (ons.gov.uk)

2. Consumer price inflation, UK - Office for National Statistics

3. Bank Rate maintained at 4.75% - December 2024 | Bank of England

4. Royal Bank of Scotland Regional Growth Tracker report for December 2024

5. Business and innovation statistics - gov.scot (www.gov.scot)

6. Producer price inflation, UK Statistical bulletins - Office for National Statistics (ons.gov.uk). Prices of goods bought and sold by UK manufacturers, including price indices of materials and fuels purchased and factory gate prices.

7. Royal Bank of Scotland Regional Growth Tracker report for December 2024

8. Labour market statistics - gov.scot (www.gov.scot)

9. The ONS notes that the Labour Force Survey (LFS) estimates have been affected by increased volatility, resulting from smaller achieved sample sizes, meaning that estimates should be treated with caution, and are working towards an online-first Transformed Labour Force Survey (TLFS), which is viewed as the long-term solution to the falling response rate.

10. Earnings and employment from Pay As You Earn Real Time Information, seasonally adjusted - Office for National Statistics (ons.gov.uk)

11. Nomis - Official Census and Labour Market Statistics (nomisweb.co.uk)

12. Online job advert estimates - Office for National Statistics

13. Textkernel new online job adverts - Office for National Statistics

14. Earnings and employment from Pay as You Earn Real Time Information, seasonally adjusted - Office for National Statistics (ons.gov.uk)

15. Monthly Decision Maker Panel data - December 2024 | Bank of England

16. Economy statistics - gov.scot (www.gov.scot)

17. UK Consumer Confidence up one point in December - NIQ

18. Retail sales, Great Britain - Office for National Statistics

19. Monthly Direct Debit failure rate and average transaction amount - Office for National Statistics

20. Public opinions and social trends, Great Britain: household finances - Office for National Statistics

21. Scotland's Economic and Fiscal Forecasts – December 2024 | Scottish Fiscal Commission

22. FAI Economic Commentary Q4 2024 | FAI

23. Economic and fiscal outlook – October 2024 - Office for Budget Responsibility (obr.uk)

24. Forecasts for the UK economy - GOV.UK (www.gov.uk)

25. Bank Rate maintained at 4.75% - December 2024 | Bank of England

26. World Economic Outlook Update, January 2025: Global Growth: Divergent and Uncertain