Slow Growth of Scottish Economy, EY reports

Based on the forecast of the EY Scottish item club that the GDP growth will be weak falling below expectation with 0.9% growth this year where a half of it is expected for the Britain and will predominantly hit the retail sector. It is anticipated to fall by 0.1% this year and will decrease in a bigger number by 0.5% and 0.3% in 2018 and 2019 respectively.

Consumers will be greatly pressured from this which will increase by 1% in 2017 and below 1% in the succeeding years until 2020 while the employment is assumed to drop by fall this year.

On the other hand, the manufacturing sector will rise following the overall economy for the first time since 4 years ago, because of higher demand and depreciation of sterling which will boost exports.

Overall, the Scottish economy is foreseen to have a sluggish growth than the Britain by 0.7% in 2018 before gaining its momentum again to reach 1.4% growth within this decade.