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Turnover grows but exports tumble in Scotland

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SCOTTISH companies have achieved growth in overall turnover in the latest three months, but the production sector remained weak as services firms drove the improvement, a key survey has revealed.

Bank of Scotland’s latest business monitor,conducted by Strathclyde University’s Fraser of Allander Institute, also shows that Scottish companies’ exports fell sharply in the three months to May.

And companies predict a further fall in exports in the face of a collection of challenges, including the strength of the pound against the euro.

Of the 401 survey respondents, 36 per cent achieved a rise in turnover in the three months to May and 29 per cent experienced a fall, with the remainder reporting an unchanged position.