Kevin Brown, savings expert at Scottish Friendly, has commented on this morning's Scottish GDP figures

After lagging the UK for most of the year, the fact the Scottish economy has outpaced the rest of the UK in the three months to July is a welcome surprise.
But it’s important not to get carried away. By historical standards, growth is still fairly anaemic and the economy continues to face many headwinds, as evidenced by the fact the economy contracted in July.
Persistent inflation and higher-than-expected interest rates have sapped household and business confidence. Exporters are also feeling the pressure from higher US tariffs which, alongside a strong pound, have made key exports such as whisky and salmon more expensive across the pond.
However, there are bright spots, too. The Scottish labour market looks to be comparatively resilient, with unemployment of just 3.5% compared to 4.7% for the UK as a whole.
And while US tariffs are hitting exporters, the taxes levied on Scottish exports are lower than they are for other countries, giving domestic firms a comparative advantage.
Overall, while the figures for the three months to July are encouraging, the backdrop remains challenging. And with the Autumn Budget approaching, many households and businesses will be hoping the UK Chancellor introduces growth-boosting measures that enhance the competitiveness of Scottish businesses, while maintaining measures that encourage households to save and invest for their family’s future.