Monthly GDP estimates for November
An experimental statistics publication for Scotland.
Scotland’s onshore GDP fell by 0.1% in November, after growing by 0.7% in October, according to statistics announced today by the Chief Statistician.
In the three months to November, GDP is estimated to have been flat (0.0% growth) compared to the previous three month period. This reflects a slight improvement during the final quarter of 2022 so far, after the upwardly revised fall of 0.1% in Quarter 3 (July to September) reported in today’s Quarterly National Accounts.
In November, output in the services sector, which accounts for around three quarters of the economy, is estimated to have remained flat (0.0% growth). At the broad level, output in consumer facing services grew by 0.7%, while health, education and public services output grew by 0.5%, and output in all other services fell by 0.6%.
Overall output in production, construction and agriculture fell by 0.4% compared to the previous month, with growth of 1.1% in manufacturing offset by falls in other sectors.
Monthly estimate for November 2022
Second quarterly estimate for Q3 (July to September) 2022
Gross Domestic Product (GDP) measures the output of the economy in Scotland. The monthly estimates are designated as experimental official statistics. This means that they are still in development but have been released to enable their use at an early stage.
The GDP Quarterly National Accounts for 2022 Quarter 3 was also released today, showing that the fall in the third quarter of the year has been revised up from 0.2% to 0.1%, along with a range of other statistics which are used for economic analysis, forecasting and modelling.
All results are seasonally adjusted and presented in real terms (adjusted to remove inflation). GDP growth 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
These estimates are compiled in line with the Code of Practice for Statistics
Original article link: https://www.gov.scot/news/monthly-gdp-estimates-for-november-1/
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