Scottish economy grows 1.0 per cent
A National Statistics Publication for Scotland.
Scottish GDP grew by 1.0 per cent during the first quarter of 2014, and has now moved beyond pre-recession levels, according to statistics announced today by Scotland’s Chief Statistician.
The latest Gross Domestic Product release, covering the period January to March, shows that total output in the economy grew by 1.0% compared to previous quarter. On an annual basis, GDP grew by 2.6% compared to the first quarter of 2013.
The services sector, which accounts for nearly three quarters of the economy, grew by 0.9% during the latest period, and the production sector grew by 2.1%. Construction contracted by 1.0%.
The figures released today were produced by independent statistical staff, in accordance with professional standards set out in the Code of Practice for Official Statistics.
The full statistical publication is available at http://www.scotland.gov.uk/Topics/Statistics/Browse/Economy/GDP2014Q1
This quarterly publication measures growth in real terms (adjusted for inflation) of Gross Domestic Product at basic prices, also known as Gross Value Added, for Scotland. The equivalent figures for the UK, produced by the Office for National Statistics, are included in table 2B.
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.
Additional discussion of the continued impact of events at the Grangemouth complex in quarter 4 of 2013 is published alongside this quarter’s bulletin in a paper titled “Special Events in Q1 of 2014”, available at:
Further information on Scottish economic statistics can be accessed at http://www.scotland.gov.uk/Topics/Statistics/Browse/Economy/
Official statistics are produced by professionally independent statistical staff – more information on the standards of official statistics in Scotland can be accessed at: http://www.scotland.gov.uk/Topics/Statistics/About