Inspired by Tim Duy's recent post on the recovery of household consumer spending in the United States, I thought I'd try and do a similar exercise for Scotland. Tim Duy's piece reveals that the recovery of household spending in the US is on a slightly weaker trend than prior to the recession.
The current trend is buoyed by a resurgence of spending on durables, which he argues won't last. Looking simply at the spend on services he notes a much weaker recovery trend.
The worry for the US is whether the restrained consumer spending path will continue.
For Scotland, we have only experimental statistics from the Scottish National Accounts Project in nominal terms. There is no disaggregation only data on total household spending is available. In the absence of a Scottish price deflator I have applied a UK consumption deflator from the ONS. So, a health warning is appropriate. But here is the result:
Oh, dear!
Nicely and helpfully done.
Posted by: anne | 09 January 2012 at 03:06 PM