Monthly GDP Estimates for July
An Experimental Statistics Publication for Scotland.
Scotland’s GDP increased by 6.8% in July, according to statistics announced today by the Chief Statistician. The increase in the latest month follows revised estimates of 6.7% growth in June and 3.1% May, and falls of 20.1% in April and 4.9% in March.
Although GDP has increased for the last three months, it remains 10.7% below the level in February, prior to the direct impacts of the COVID-19 pandemic.
In July there has been further growth in the three main sectors of the economy. Output in the Services sector is estimated to have increased by 5.5% compared to June, output in the Production sector increased by 8.6%, and Construction sector output is estimated to have increased by 23.4%.
This is the fourth release of new monthly GDP statistics for Scotland. These statistics have been produced by the Scottish Government to help track the economic impact of the COVID-19 pandemic. They are designated as experimental official statistics, which means that they are still in development but have been released to enable their use at an early stage. All results are provisional and subject to relatively high levels of uncertainty.
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.
These estimates are compiled in line with the Code of Practice for Statistics – read more information on the standards of official statistics.