Scottish Recovery May Be Slower Than Uk - with Risk of 'Double Dip'

Summary

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SCOTLAND is expected to emerge from recession by the end of the year, though there is a possibility it may struggle to join the rest of the UK on the road to recovery and may suffer from a "double- dip" downturn.

Economists at the Fraser of Allander Institute at Strathclyde University Business School are forecasting a 5 per cent fall in GDP this year and just 0.1 per cent growth in 2010, rising to 1.6 per cent in 2012, well below trend.

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Extract

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Scottish Recovery May Be Slower Than Uk - with Risk of 'Double Dip'

They say that Scotland has suffered from a combination of tight bank lending, a battered financial services sector, a large public sector and an under-sized manufacturing base.

There is a warning of two quarters of negative growth in the second half of next year - a doub...

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