Kevin Brown, savings specialist at Scottish Friendly comments on todays Scottish GDP

“Scotland’s economy grew in July, which is encouraging in itself, but also as it comes in against a wider UK economy that expanded by 0.4 per cent over the month (1).

However, households are facing a strange combination of rising inflation (2) and resilient growth, with higher energy costs expected to keep pressure on prices and interest rates.

For savers, that makes it important to secure a competitive cash rate, but also to look at the return they are getting after inflation – rather than the headline rate alone.

Meanwhile, for money that can be left invested for the long term, diversified investments can potentially help offer a better chance of preserving and growing the spending power of money.”

Source: (1) https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/july2026

Source: (2) https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2026/september-2026