Understanding Scotland Economy Tracker - February 2025 Insights
Past event: 24th February 2025
The latest results for the Understanding Scotland Economy Tracker, which tracks economic confidence and buying intentions over time, pose big questions for politicians and decision makers north and south of the border.
The latest findings from the data collected in the first week of February, reveal the economic outlook remains bleak:
62% of Scots say conditions have worsened over the past year
64% expect further deterioration in the next 12 months.
Healthcare remains the top priority for Scots, with concern rising by four percentage points to 50%, while the cost of living remains a pressing issue at 34%. At the same time, concern about the economy is resurging, increasing by four percentage points to 20%, up from a low of 16% in November 2024.
The audience heard reflections on the new data from Gary Gillespie, Chief Economist for the Scottish Government and Kathryn Welch, Interim Director, Culture Counts.
The event was kindly hosted by Phoenix Group.
Find out more about the research:
About the speakers:
Scott Edgar, Senior Research Manager, The Diffley Partnership
Scott joined the Diffley Partnership following previous roles in social research in the Electoral Commission and the Ministry of Housing, Communities and Local Government. Since joining the business he has managed a wide range of research projects including two of Diffley Partnership’s regular quarterly surveys in Understanding Scotland and Understanding Business.
Scott has significant expertise in statistical data analysis, research design, management of research projects and communication and has worked on several high profile and high impact projects. He has a degree in Political Research from the University of Strathclyde.
Gary Gillespie, Chief Economist, Scottish Government
Gary was appointed Director and Scottish Government Chief Economic Adviser in 2011. He joined the civil service in 2000 from the Fraser of Allander Institute (University of Strathclyde) where his research interests included Scottish economy, regional economic modelling and foreign direct investment.
Gary provides economic advice to the First Minister and Ministers across a range of strategic economic issues. He publishes regular assessments of the State of the Economy and analysis of key impacts (EU Exit, Covid, Supply chain disruption, inflation etc.) on changes in the Scottish and UK economies. He is a regular participant in economic discussion across Scotland, UK and internationally. He leads engagement on the Wellbeing Economy Government (WEGo) network which was instigated in 2018 and seeks to share best practice in delivering international change.
Gary was made an Honorary Professor at Glasgow Caledonian University in January 2011 and was appointed to the role of Visiting Professor at the University of Strathclyde in 2015. He was also appointed a Fellow of the Academy of Social Sciences in 2017.
Kathryn Welch, Interim Director, Culture Counts
Kathryn is Interim Director of Culture Counts, a network of arts, heritage, and creative industries organisations that works to promote, protect and demystify the culture sector in Scotland. She sits on the Scottish Government's Culture Fair Work Taskforce, and is regularly invited to represent the sector in Parliament, with funders, and in the media. Prior to this role, Kathryn led Creative Scotland's Culture Collective programme, and held senior positions with Creative Lives and Macrobert Arts Centre.