Scottish economy grows 0.4%
A National Statistics Publication for Scotland.
Scottish GDP grew by 0.4% during the second 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 April to June 2016, shows that total output in the economy grew by 0.4% compared to the previous three months. On an annual basis, compared to the second quarter of 2015, Scottish GDP grew by 0.7%.
The services sector, which accounts for three quarters of the economy, grew by 0.5% during the latest period, the production sector grew by 0.3%, and construction output contracted by 1.9%.
Industries which represent a large proportion of the economy or which have big quarterly changes have the most impact on overall GDP. We calculate how much industries contribute to the overall change in GDP.
The industry which has had the greatest contribution to growth is Business Services & Finance, which accounted for 0.4 percentage points of growth in the Scottish economy in quarter 2 2016.
The industry which has had the greatest contribution to contraction is and Electricity & Gas, which both accounted for 0.2 percentage points of contraction in the Scottish economy in quarter 2 2016.
The full statistical publication is available at http://www.gov.scot/Topics/Statistics/Browse/Economy/PubGDP/GDP2016Q2
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.
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