Kevin Brown, Savings Specialist at Scottish Friendly comments on Scottish GDP announcement

“While Scottish growth significantly outpaced the rest of the UK in April, it's unwise to read too much into one month. Scotland's economy is still treading water, growing just 0.1% in the three months to April — well behind the UK's 0.7%.

"The biggest threat to the Scottish economy remains the disruption caused by the situation in the Middle East. Ceasefire talks are ongoing, but the situation remains fragile. If tensions flare again, it will have a negative knock-on effect for Scottish businesses and key Scottish exports such as whisky and salmon, which are heavily reliant on stable shipping routes.

"For savers and households, the risk of another shock hasn't gone away. The best approach is to get your finances in order now. That means building a buffer, if you can, and shopping around for a better savings rate or consider putting excess cash to work in the stock market for the chance of stronger long-term returns."