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Scottish economy grows 0.6%

 A National Statistics Publication for Scotland.

Scottish GDP grew by 0.6 per cent during the fourth quarter of 2014, according to statistics announced today by Scotland’s Chief Statistician.

The latest Gross Domestic Product release, covering the period October to December 2014, shows that total output in the economy grew by 0.6 per cent compared to previous quarter. On an annual basis, GDP grew by 2.8 per cent compared to the fourth quarter of 2013.

Calendar year growth for 2014, i.e. comparison of the four quarters of 2014 with the four quarters of 2013, was 2.7 per cent.

The services sector, which accounts for nearly three quarters of the economy, remained at the same level (grew by 0.0 per cent) during the latest period, the production sector grew by 1.0 per cent, and construction output expanded by 6.1 per cent.

Notes To Editors

This quarter’s estimates update the structural information on the economy to a 2012 weighting and include methodological improvements associated with the European System of Accounts 2010. Full details are discussed in the bulletin and an accompanying information note available at the link below.

The full statistical publication is available at http://www.scotland.gov.uk/Topics/Statistics/Browse/Economy/GDP2014Q4

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

Contact Information

SG Communications

SGCommunications@scot.gov.uk

 

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

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