It would surely be difficult to find a way to sugar-coat the forecast by EY that Aberdeen will, between 2025 and 2028, be the “lowest-performing city in the UK” in terms of economic growth.

The accountancy firm’s projection for growth in Aberdeen contrasts starkly with the expansion it predicts for Glasgow and Edinburgh and many other cities across the UK.

And EY made no bones about what it expects to drive the weakness it forecasts for the Granite City - the decline in North Sea oil production against the backdrop of the energy transition.

The accountancy firm declared: “Aberdeen is uniquely exposed to the decline in oil and gas extraction. New investments in renewable energy are yet to - and may never fully - replace the lost activity and employment.”

It is a far cry from the heady days of the North Sea oil boom, which brought such great wealth to Aberdeen and the surrounding area.

Of course, the outlook across the UK is not particularly bright, and there is little sign of any swift return to better times.

That said, EY’s outlook for Aberdeen sticks out like a sore thumb.

Aberdeen is predicted by EY to grow at an average annual rate of just 0.9% between 2025 and 2028 amid the challenges in the energy sector.

Average annual growth in the UK is projected at 1.6% over the same period.

EY observed: “Aberdeen is the only UK city expected to see less than 1% growth from 2025 to 2028, making it the lowest-performing city in the UK.”

And the accountancy firm highlighted its belief that government policy........

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