Haig Bathgate, speaking on BBC Radio's Good Morning Scotland, comments on the current economic outlook.
Scottish firms are reporting the fastest rise in business activity since May 2007, according to the Bank of Scotland's PMI report for June. With the UK economy lagging for a sustained period of time, it's encouraging to see things improve lately and more recent initiatives from the Government and Bank of England in relation to Help to Buy and Funding for Lending are having a tangible impact. This, at a time when inflation is falling, is helping give consumers a welcome break and increases the amount of disposable income which can be ploughed back into the economy through consumer spending.
Haig commented further on UK consumer spending and forecast a potentially volatile week in the markets following the European Central Bank's announcement that interest rates will remain low for the foreseeable future.
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