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Scottish economy grows 0.8 percent

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Staff Writer | July 6, 2017
The Scottish economy grew by 0.8% during the first quarter of 2017, according to statistics announced today by Scotland’s Chief Statistician.
Scottish economy grows
Scotland   The latest Gross Domestic Product release
Change in gross domestic product (GDP) is the main indicator of economic growth in Scotland.

The latest Gross Domestic Product release, covering the period January to March 2017, shows the economy grew by 0.8% compared to the previous three months. On an annual basis, compared to the first quarter of 2016, the Scottish economy grew by 0.7%

During the first quarter of 2017 output in the services industry in Scotland grew by 0.3%, production grew by 3.1% and construction contracted by 0.7%.

Industries which represent a large proportion of the economy or which have big quarterly changes have the most impact on overall GDP.

The industry which had the greatest contribution to change in the Scottish economy in the first quarter of 2017 is Production (which accounted for 0.6 percentage points of total growth).

Scotland’s GDP statistics are seasonally adjusted, so regular patterns such as the increase in retail leading up to Christmas are taken into account and don't affect the final figures.


 

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