Scottish Chambers of Commerce expects difficult 2012

Scottish bank notes The survey has found that optimism across all sectors is low for 2012

Related Stories

Scottish businesses are expecting a difficult year ahead, according to a study by the Scottish Chambers of Commerce.

The survey found that in the final three months of last year, business confidence and optimism fell.

The chambers said the Eurozone crisis and the impact of public sector spending cuts were to blame.

It warned there were few signs of improvement in 2012 and many companies expected to cut jobs.

The final survey from the chambers for 2011 showed some optimism at the beginning of last year, especially in construction.

However for most of the second half of the year, the industry saw a drop in orders and in the last three months, 80% of those surveyed said they were working below capacity.

An easing of cost pressures later in the year did help manufacturers who had been struggling to maintain margins in the face of higher prices of raw materials.

Although exports helped to maintain a certain level of orders - companies expect a slight fall in overseas sales in the first quarter of this year.

All areas surveyed reported that jobs had been cut towards the end of 2011 and all expected that trend to continue.

Retail and tourism were particularly gloomy about future prospects.

In retail more than 80% said sales levels fell between October and December last year and 77% thought profits would be down in the next 12 months.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Scotland business stories


Features & Analysis

Elsewhere on the BBC

  • KnucklesGood or bad?

    For many it can be very satisfying to 'crack' the bones in your hand, but is it bad for you?


  • 3D model of Christ the Redeemer statueClick Watch

    Using drones to 3D map the famous Brazilian landmark Christ the Redeemer

Try our new site and tell us what you think. Learn more
Take me there

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.