BIS central bankers’ speeches  11  Chart 1: UK and Scottish onshore GDP per capita UK Scotland  Percentage changes on a year earlier 10 8 6 4 2 0 -2 -4 -6  1964  1972  1980  1988  1996  2004  -8 2012  Source: Bank calculations; Scottish Government GDP statistical bulletin (2010Q1 and 2013Q3); ONS UK real GVA ex oil and gas extraction (KLS2 & UIZY); ONS mid-year population estimates; General Register Office Scotland; OECD. Chart 2: Unit wage costs in the UK and Scotland UK Scotland  Indices: 2000 = 100  150 140 130 120 110 100 90  1998 2000 2002 2004 2006 2008 2010 2012  80  Sources: Bank calculations; ONS Gross weekly earnings by region (EARN05); ONS real GDP (ABMI); Scottish Government GDP statistical bulletin 2013Q3; Labour Force Survey. Gross weekly earnings seasonally adjusted in-house. Notes: Unit wage costs calculated as gross weekly earnings divided by real output per worker for the UK and Scotland. 12  BIS central bankers’ speeches  Chart 3: Unit labour costs in the Euro area Indices: 2000Q1 = 100  Euro area Belgium Germany Estonia Ireland Spain France Italy Cyprus Latvia Luxembourg Malta Netherlands Austria Portugal Slovenia Slovakia Finland Greece  240 220 200 180 160 140 120 100  2000Q1  2003Q1  2006Q1  2009Q1  2012Q1  (a)  80  Sources: DataStream, Eurostat and Bank Calculations. Notes: Greek data seasonally adjusted by Bank of England.
Weighted using shares in 2012 nominal GDP. Chart 8: Euro area core/periphery output growth Periphery Core  Percentage changes on a year earlier 6 4 2 0 -2 -4 -6  1998 2000 2002 2004 2006 2008 2010 2012  -8  Sources: Eurostat and Bank calculations. Notes: Based on data for Vulnerable Euro Area Periphery economies (VEAPS) (Ireland, Portugal, Spain, Greece, Italy) and core (all other EA countries excluding Malta). Data up to 2013Q3. 16  BIS central bankers’ speeches  Chart 9: Scottish mortgage loans as a share of the UK total 12% 10% 8% 6% 4% 2%  2005  2007  2009  2011  2013  0%  Source CML. Note: Number of Scottish regulated mortgage loans as a share of the UK total. Table 4: Banking sector size as multiple of GDP(a)  2012 Scotland  12.5  rUK  4.3 2007  Ireland  7.1 (b)  Iceland  7.4  Cyprus  6.6  Spain  3.2  UK(c)  5.1  (d)  1.2  US  Sources: Bank of England, ECB, Central Bank of Iceland, Datastream, Federal Reserve and Bank of England calculations. (a) Banking assets of euro area countries are recorded in the country where the parent entity is domiciled and includes all EU assets. Assets reflect gross derivative positions. (b) Iceland data reflects net derivative positions and includes resident banks’ domestic and foreign assets. (c) 2012 UK data taken from the HMT’s 'Scotland analysis: Financial services and banking', for methodology see https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/206166/banking_assets_vs_gdp_explanatio n.pdf.