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Scottish economy grows 0.2%

Published: 18 Jan 2017 09:30
Part of:
Economy, Statistics

A National Statistics Publication for Scotland.

Scottish GDP grew by 0.2% during the third quarter of 2016, according to statistics announced today by Scotland’s Chief Statistician.

Change in gross domestic product (GDP) is the main indicator of economic growth in Scotland. The latest Gross Domestic Product release, covering the period July to September 2016, shows that total output in the economy grew by 0.2% compared to the previous three months. On an annual basis, compared to the third quarter of 2015, Scottish GDP grew by 0.7%.

The services sector, which accounts for three quarters of the economy, grew by 0.4% during the latest period, the production sector contracted by 0.1%, and construction output contracted by 1.4%.

Industries which represent a large proportion of the economy or which have big quarterly changes have the most impact on overall GDP. Services accounted for 0.3 percentage points of growth in the Scottish economy in quarter 3 2016. Construction accounted for 0.1 percentage points of contraction in the Scottish economy in quarter 3 2016.

Background

The full statistical publication is available at  http://www.gov.scot/Topics/Statistics/Browse/Economy/PubGDP/GDP2016Q3/DOCS

This quarterly publication measures growth in real terms (adjusted for inflation) of Gross Domestic Product for Scotland.

Statistics in this release cover activities classified to the onshore economy in Scotland, and do not include oil and gas extraction in the North Sea.

A survey to establish how Scottish GDP data are used and how it could be improved is underway until 10 March 2017. If you are interested in participating please go to https://response.questback.com/scottishgovernment/gdp_user_survey.

Further information on Scottish economic statistics can be accessed at http://www.scotland.gov.uk/Topics/Statistics/Browse/Economy/

These estimates are compiled in line with the Code of Practice for Official Statistics – more information on the standards of official statistics in Scotland can be accessed at: http://www.scotland.gov.uk/Topics/Statistics/About