The latest Scottish Chambers of Commerce (SCC) Quarterly Economic Indicator survey for Q2 of 2019 shows businesses in Scotland “are resilient and demonstrating their underlying strength …”
However, businesses are “weighing the costs of the chaos caused by more dithering over Brexit and the burden is severe,” said SCC president Tim Allan.
The survey is produced by the SCC Network in collaboration with Strathclyde Business School’s Fraser of Allander Institute.
“The majority of firms for all sectors in the survey are putting off investment and say this trend will continue over the summer months,” said Allan.
“All are desperate for some kind of resolution to Brexit before the October 31st deadline.”
Graeme Roy, Director, Fraser of Allander Institute, said: “A ‘no deal’ Brexit is likely to act as a major shock to the Scottish economy, even if policymakers try to ‘manage’ the greatest challenges.
“On the other hand, should a deal be reached, then there is the possibility that this will support a more positive outlook as investment and spending picks-up.
“What is clear however, is that businesses must continue to prepare for an uncertain environment.”