The continuing economic recovery of Scotland is set to slow down at the end of third quarter of this year after touching its peak in the month of July, as per the bank data.

The index of leading indicators of Bank of Scotland has made a forecast for slowdown in the economic recovery of the country in the last quarter of this year. It has also said that the low interest rates are blocking the housing sector from growing which would be the key for economic growth for any country.

According to the bank, the new order levels are rising mainly in the manufacturing sector and the manufacturers are struggling to meet their demands of products due the economic downturn.

The bank suggested the Finance Ministry to think about some plans to help out the manufacturers and housing market which could be the key drive for county’s economic growth.

According to the latest data of the Bank of Scotland, the economic growth has slowed down in the autumn as both the customers and businesses lost their confidence because of the concerns over future spending cuts by the government.