Understanding Scotland- Economy 2023

Delighted to have published the latest in our Understanding Scotland Economy Tracker series with David Hume Institute this morning.

Some key findings from this wave:

• Scots remain sceptical about the economy and economic recovery- 38% say that economic conditions are much worse now than a year ago, down from 46% in May. Almost a third (32%) believe that economic conditions will be the same this time next year, up from 28% in May.
•  We are continuing to cut back spending- Across the board, Scots are reducing expenditure on energy use (69%), non-essential purchases (67%) and leisure purchases (61%), with little sign of letting up; these rates have remained stable from May.
• Cost of living continues to dominate the conversation- Cost of living/inflation and healthcare and the NHS remain top concerns amongst the public, although cost of living has overtaken healthcare for the first time in a year. Cost of living remains far and away the most common economic priority.
• We are changing how we shop and what we eat- Half (52%) of people say they are shopping for food based on price rather than health, and over 1 in 4 are reducing the quantity or quality of fruits and vegetables in their diet (28%), consuming more packaged or processed foods (27%), or choosing foods that require no or very little cooking (25%).

The full report can be read on our brand new Understanding Scotland website here.

Understanding Scotland is a quarterly survey tool measuring the most important facets of our lives and decision-making in Scotland: our society, economy, and environment.