Without the exceptional item, forecast earnings will be 22% smaller than 1994 -- the worst performance in nearly three decades.

CNN: BUSINESS

The firm's Item Club forecast predicts strong growth and below-target inflation, but tighter profit margins which could hit investments and jobs by next year.

BBC: 'Outlook rosy' for UK economy

The latest analysis and forecast from the Item Club Scotland points out there are other telling comparisons closer to home.

BBC: Making up lost ground

The Scottish Item Club twice-yearly forecast confirms there are big job losses afoot in the public sector, but it highlights indications that the private sector is on track to do well at replacing them.

BBC: Stands Scotland's economy where it did?