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Is the economy that bad? Holidays begin and the Duke of York: Business week preview

The Duke of York speaks during a semi-final Pitch at Palace 'boot camp' at the Harwell Science and innovation Campus in Didcot
The Duke of York speaks during a semi-final Pitch at Palace 'boot camp' at the Harwell Science and innovation Campus in Didcot

A wave of facts and figures will hit Scotland this week as the Office for National Statistics and others do their best to shed light on progress or otherwise for the economy.

North and north-east firms are hoping for signs the private sector is robust and resilient, despite all the political and economic uncertainty around it.

In the north-east, that means finding comfort to encourage recent green shoots of recovery for a local economy battered by the oil price slump.

There are sure to be positives but economic experts, including Fraser of Allander’s Graeme Roy in a report out today, have warned the situation is “fragile” and it would not take much to knock Scotland back into recession.

Fortunately, there are enough bright sparks around to help build confidence in Scotland’s future and some of them will be pitching their business ideas in front of the Duke of York in Aberdeen today.

Hosted by business support organisation Elevator, the Pitch@Palace On Tour event is the first of three that will take place across the UK and the only one in Scotland.

Established by Prince Andrew in 2014, the Pitch@Palace scheme has already helped more than 400 UK businesses to grow.

Many of the region’s schools have just broken up for the summer, which will impact businesses of all kinds this week.

Visitor attractions, food outlets and shops are all likely to enjoy a boost to their average “footfall” – the big question is how much?

Aberdeen International Airport will be looking to the summer break to cement a recent improvement in fortunes, while businesses of all types may benefit from less traffic on the roads without the dreaded school run.