Fall in Scottish private sector growth steeper in October
14 Nov 2011
1
According to a survey of business managers, the pace of growth in Scotland's private sector economy fell further last month.
The Bank of Scotland's latest Purchasing Managers' Index (PMI) pointed to a second successive monthly drop in new business orders.
According to the bank, a marked fall in demand for manufactured goods was the reason for the latest decline.
However, service providers reported a slight improvement in new business.
According to the index, firms were working through backlogs of work for sustaining output growth.
Employment continued to decline, as businesses absorbed cost pressures with charges remaining broadly unchanged.
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