Most Scottish firms maintained or increased turnover in the quarter ended August, according to data from Lloyds TSB Scotland Business Monitor.

The data shows that 30% of firms reported an increase in turnover, a third (33%) experienced static turnover while 37% experienced a decrease. This gave a net balance of -7%; unchanged from the previous quarter but up on the -13% reported in the same quarter last year.

Donald MacRae, chief economist, Lloyds TSB Scotland, says: “After five quarters of declining output with the most severe decline in quarter one of 2009, the Scottish economy returned to growth at the end of last year with output growing at 0.3% in quarter four 2009. The recovery appeared to stall in mid winter resulting in unchanged output growth in quarter one of this year.

“These Business Monitor results indicate that although growth may have been restored, it remains weak and muted. Both consumer and business confidence remain at low levels. Growth in the Scottish economy of between 0.5% to 1.0% is expected for 2010.”