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    Herald Scotland: Scottish economy to Trail UK Amid North Sea Oil and Gas Industry Downturn

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Summary

An Ernst and Young analyst says that the North Sea crisis will affect Scotland's economy and growth much more than the rest of the UK

by: Erica Mills

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Herald Scotland: Scottish economy to Trail UK Amid North Sea Oil and Gas Industry Downturn

Growth in Scotland will lag further behind the UK in coming years as the downturn in the North Sea oil and gas industry takes a heavy toll on the country, economists have predicted.

The Ernst & Young Scottish ITEM Club has warned that growth in the Scottish economy will slow sharply this year as the effects of the slump in the crude price ripple across the country.

With firms in the North Sea slashing spending and jobs the downturn has left many Scottish businesses in areas like engineering and business services facing a big drop in oil and gas work.

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