Understanding Scotland Economy Tracker – November 2025
Think tank: The David Hume Institute
Author(s): David Hume Institute
November 23, 2025
This report from UK think tank The David Hume Institute looks at the economic outlook for Scots.
The final Understanding Scotland Economy Tracker for 2025 highlights widespread pessimism about Scotland’s economic outlook and its growing impact on daily life.
The Tracker, commissioned by the David Hume Institute and produced by Diffley Partnership, reveals that around 69% of Scots believe the economy is worse than a year ago, and 73% expect conditions to deteriorate further, marking a rise in negative sentiment.
Financial strain is affecting most households, with 84% reporting some negative impact from money concerns. Many are adjusting behaviour, including cutting spending and reducing heating use; nearly half (47%) say they have used less heating, while 18% report impacts on physical health. Younger people and households with children are particularly affected, showing greater changes in spending and lifestyle.
Expectations for the labour market are also low. Only 9% anticipate more job opportunities, while 70% disagree. Over half believe they would need retraining to find new work, yet 22% report receiving no training in their current roles.
