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Scottish economy grows 0.2 per cent

A National Statistics Publication for Scotland.

Scottish GDP grew by 0.2 per cent during the fourth quarter of 2013, according to statistics announced today by Scotland’s Chief Statistician.

The latest Gross Domestic Product release, covering the period October to December, shows that total output in the economy grew by 0.2 per cent compared to previous quarter. On an annual basis, GDP grew by 1.7 per cent compared to the fourth quarter of 2012.

The services sector, which accounts for nearly three quarters of the economy, grew by 0.6 per cent during the latest period. The production sector contracted by 0.7 per cent, and construction contracted by 1.0 per cent.

These estimates reflect in part the events at the Grangemouth complex in October 2013. Additional discussion of the measurement of these events is published alongside this quarter’s bulletin in a paper titled “Special Events in Q4 of 2013 – Grangemouth”.

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.

Notes To Editors

The full statistical publication is available athttp://www.scotland.gov.uk/Topics/Statistics/Browse/Economy/GDP2013Q4

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.

Further information on Scottish economic statistics can be accessed athttp://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

Channel website: http://www.gov.scot/

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