MSP hails economic upturn

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Angus South MSP Graeme Dey has welcomed a report from the Scottish Government which announced the nation’s economy had grown for the first time since 2007. Published on Friday, the State of the Economy report by Dr Gary Gillespie, the Scottish Government’s chief economist, found that the economy had grown by 1.6 per cent during 2013, the first year since 2007 with four quarters of growth. Economic output remains on target to surpass its pre-recession peak during the first half of this year and there is survey evidence of growing confidence across many sectors. This is most evident in the aggregate labour market indicators which is now at pre-recession levels. Mr Dey said: “I welcome the findings of Dr Gillespie’s report, which clearly shows Scotland’s economy is consolidating and strengthening.

“And of course this latest snapshot is against the backdrop of recent employment figures which have hit a record high This is good news for business and good news for hard working people across the country. “It is important that we put these trends in context. It was more than five years ago that Scotland entered recession and the effects of the crisis will continue to have an impact for some time to come. However, with the economy recording its fastest year of growth in five years in 2013 and forecasters expecting the pace to accelerate further in 2014, our prospects for the economy remain optimistic.”