Scottish Government
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Economy contracts 1.9% in the first quarter of 2021
A National Statistics Publication for Scotland.
The Chief Statistician has released statistics showing that the economy contracted by 1.9% during January to March 2021.
Change in gross domestic product (GDP) is the main indicator of economic growth. Over the year, compared to the first quarter of 2020, the economy has contracted by 5.4%.
During the first quarter output in the Construction sector grew by 2.6%, output in Production grew by 1.3%, and output in the Services sector contracted by 3.0%.
The second estimate of GDP for the first quarter of 2021 will be available in Quarterly National Accounts Scotland, published on 4 August 2021. The first estimate of GDP for the second quarter of 2021 will be published on 15 September 2021.
Background
The full statistical publication and data are available on the Scottish Government website.
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.
Further information on GDP statistics is available on the Scottish Government website.
These estimates are compiled in line with the Code of Practice for Statistics
Original article link: https://www.gov.scot/news/economy-contracts-1-9-percent-in-the-first-quarter-of-2021/
