A business survey carried out by the Scottish Chambers of Commerce in conjunction with Strathclyde's Fraser of Allander Institute shows few signs of recovery in the third quarter as business awaits the outcome of the imminent government spending review.
The business survey results were released on October 14 and suggested the Scottish economy had slowed in the third quarter, with the positive signs of economic recovery evident earlier in the year having faded.
As the survey's results were publicised, Gerry Clark, head of policy and public affairs at Scottish Chambers of Commerce, said, "As business look towards next week's Comprehensive Spending Review, it is clear that Scotland's economic recovery is going through a very difficult phase. There can be little doubt that ongoing uncertainty over the pace and impact of public sector cuts is sapping business confidence. We can only hope that next week's announcement, coupled with the forthcoming Scottish Government budget, brings certainty and allows business to get on with planning for future growth."
The Fraser of Allander Institute carried out the business survey in September and early October.