The findings are in line with the UK as a whole, and follow figures last week showing UK industrial production sharply down in October, and threatening another dip into recession this winter.

BBC: Poor market conditions hit Scottish firms

Nomura figures loans will soon follow, but American banks will benefit as they fill the void.

ECONOMIST: American banks

As in recent quarters, Dell offered no follow-up calls or figures from the previous year in the report.

FORBES: Investors Cheer As Dell Wields Ax

The new figures follow a recent report by the Fraser of Allander Institute which predicted a slowdown in economic growth as a result of the manufacturing slump in Scotland.

BBC: Scots business profits weaken