Scotland’s economy is showing “clear signs of recovery”, according to new analysis by accountancy firm PwC.
It UK Economic Outlook report found GDP growth will pick up from 1.6% last year to around 2.8% this, while average house prices could rise by 5% from a 2013 base of £181,000.
PwC said its expectations for Scotland’s economy exceeded those published by the closely-watched Fraser of Allander economic forecast last month.
Paul Brewer, government and public sector partner for PwC in Scotland, said the figures were a further welcome sign that the economy was “gathering momentum”.
“From a business perspective, while we are seeing anecdotal evidence of increasing confidence across many business sectors, this isn’t necessarily feeding into the volume of investment that is needed to help balance the recovery,” he said.
“Unlike at the height of the recession, access to finance is not the key issue, with factors such as the time for investment decisions to be fulfilled and pre-Referendum uncertainty more likely causes.
“We need to see a significant step up in investment if we are to really harness this economic momentum.”
