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29/04/20 09:30

Economic growth confirmed at 0.2% in 2019 Quarter 4

A National Statistics Publication for Scotland.

Scotland’s economy grew by 0.2% during the fourth quarter of 2019, according to statistics announced today by the Chief Statistician covering the period from October to December.

Change in gross domestic product (GDP) is the main indicator of economic growth.

Growth in the latest quarter has not been revised from the first estimate published on 18 March. Annual growth for 2019 is now reported as 0.7% compared to 2018, revised down from the first estimate of 0.8%.

During the fourth quarter, the updated figures show that output in the services sector grew by 0.5%, output in the production sector fell by 1.4%, and output in the construction sector grew by 0.3% compared to quarter 3.

The GDP Quarterly National Accounts publication includes the second estimate of growth for the October to December period. This uses data which has been released since the first estimate was published. The Quarterly National Accounts also includes a range of other statistics which are used for economic analysis, forecasting and modelling.

Background

The full statistical publication and data.

The way that we work is changing in response to COVID-19, and the Scottish Government is developing new monthly economic statistics which will help to track the impact on the economy. These plans include a monthly GDP release which could be produced faster than the usual First Estimate of GDP, next planned for 17 June. Further details can be found in the publication.

Change in gross domestic product (GDP) is the main indicator of economic growth. All results are seasonally adjusted and presented in real terms (adjusted to remove inflation). GDP growth in this publication relates to Scotland’s onshore economy, which means it does not include the output of offshore oil and gas extraction. Estimates of the cash value of Scotland’s GDP are available excluding and including oil and gas extraction.

Further information on GDP statistics.

These estimates are compiled in line with the Code of Practice for Statistics.