Retail sector grows by 0.8 per cent in second quarter

Retail sales in Scotland grew by 0.8 per cent in the second quarter of 2015, according to new official figures. 

The Scottish Retail Sales Index, conducted by National Statistics Scotland, shows a 2.4 per cent annual increase from the same quarter in 2014. 

This shows a turnaround of 2.8 per cent for small and medium sized retail businesses, following a period between 2008 and the first half of 2012 which saw a decline in sales volume.

Commenting on the figures, deputy First Minister John Swinney said: “These latest retail figures highlight the on-going recovery of the Scottish economy. 2014 saw the fastest level of economic growth since 2006, unemployment is falling and real wages are up, all of which should feed through to household incomes.”

“We are working hard to support Scotland’s retailers, with the most competitive business tax environment anywhere in the UK, with 96,000 properties across all sectors of the Scottish economy paying zero or reduced business rates.”

Overall, the data shows retail sales in Great Britain increased by 0.7 per cent in volume terms during the second quarter of 2015, and grew by 4.4 per cent annually.

Swinney added: “There is positive business survey evidence and wider consumer sentiment which suggests a continued positive outlook for retail sales in Scotland.”