From the archives: Bank survey of Scottish economy, 31 March, 1950

AFTER recalling the return to buyers’ market conditions in 1948, the Clydesdale and North of Scotland Bank’s latest annual survey of economic conditions in Scotland goes on to consider business activity in 1949 and the prospects for the current year.

The flow of raw materials and components continued to improve in 1949, states the survey, but some uneasiness concerning the future prevails as production costs generally have remained high, and, as a result of growing international competition and the satisfaction of many of the more urgent post-war needs, order books in the major industries have become much shorter, while activity in some of the lighter industries has receded as domestic demand has become less insistent. Buyers are not so willing to place orders if delivery dates are uncertain or unduly far ahead, firm price quotations are being demanded and longer credit is being sought.