Saturday 01 August 1998
THERE WAS a sharp decline in Scottish manufacturing output, orders and employment in July, according to a survey by the Bank of Scotland. Prices of goods bought by manufacturers continued to fall, largely because of cheaper imports, but wages and salaries in the service sector continued to rise. David Jenkins of the Bank of Scotland said: "The decline in absolute terms in manufacturing output in Scotland is increasingly worrying. The immediate prospects for the Scottish economy leave little room for encouragement."
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