State of the Nation: Expectation that interest rates will rise before Christmas

SCDI’s latest State of the Nation briefing for December brings together all of the latest data, forecasts and analysis on the Scottish economy in one place, so you don’t have to.

Key points

  • Interest rates again remained at 0.1%, but are expected to rise on the 16th December 
  • Inflation reached a new ten-year high at 3.8% in October
  • UK Productivity still rose in in the period July to September but a reduced rate
  • UK GDP grew by 1.3%, but remains 2.1% below pre-pandemic levels
  • Retail sales in Scotland declined by 0.3% in October
  • 20,000 small businesses went under during the year to March 2021, a drop of 5.4%, lowering the business base to its smallest level since 2014

Download the briefing below, which is published in partnership with DailyBusiness.


State of the Nation / December


State of the Nation / November


State of the Nation / October