Scots economic recovery 'muted', says Lloyds TSB survey

The Scottish economy is continuing a muted recovery from recession, according to a new business survey.

Lloyds TSB Scotland said it had found positive signs of companies winning new business, despite low levels of confidence.

But the bank's survey suggested growth was weak, muted and likely to be below 1% this year, and consumer and business confidence remained low.

However, the figures represent slow, steady improvement from deep recession.

Improvements in exports slowed, but expectations of overseas sales were buoyant, according to the survey.

There are better signs from a CBI survey of Britain's banks, which found them in good shape although their retail divisions were described as "subdued" as they prepared for increased competition.

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