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Gross Domestic Product 4th Quarter 2011

GDP Analysed by Industry Sector

Scottish GDP in constant basic prices, which is also known as Gross Value Added (GVA), fell by 0.1 per cent during the fourth quarter of 2011, following growth of 0.4 per cent in 2011 Q3. On an annual basis (4Q-on-4Q), GDP grew by 0.5 per cent in the latest quarter, compared to 0.7 per cent in 2011 Q3.

 Services sector output grew by 0.2 per cent over the quarter, and grew 0.4 per cent on an annual basis (4Q-on-4Q). Production sector output remained unchanged over the quarter, and grew by 1.7 per cent annually. Construction sector output fell 2.7 per cent over the quarter, and fell by 1.5 per cent annually.

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The largest overall contribution to growth was from Services, mostly due to strong growth in business services & finance. There was also growth in the distribution, hotels & catering industries.

Total Production sector output remains unchanged from last quarter, with a fall in manufacturing being offset by strong growth in the Electricity & Gas Supply sector. Falling Construction sector output also made a negative contribution to overall growth.

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Index of Production

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Total production output remained unchanged during 2011 Q4, following a fall of 0.9 per cent in the previous quarter.

Manufacturing output fell by 0.6 per cent. The main contributors to this fall were Metals & Fabricated Metal Products, Refined Petroleum, Chemical & Pharmaceutical Products and Food & Tobacco. The most significant increase this quarter was in the Engineering and Allied Industries sector.

Output in Mining and Quarrying fell by 0.6 per cent, following an increase of 0.8 per cent in the previous quarter.

Electricity & Gas Supply output increased by 5.3 per cent in the latest quarter, following a fall of 8.7 per cent 2011 Q3.

 

 Index of Construction

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Construction output fell 2.7 per cent during 2011 Q4, following a decline of 1.4 per cent in 2011 Q3.

 

 Distribution, Hotels and Catering

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Output in Distribution, Hotels and Catering grew 0.2 per cent following growth of 0.7 per cent in the previous quarter. 

The strongest growth was in Retail & Wholesale with a slight fall in Accommodation & Food Services.

 

Transport, Storage and Communication

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Output in Transport, Storage & Communication fell by 0.6 per cent, following growth of 0.2 per cent in the previous quarter.

Growth in the Transport & Storage sectors was outweighed by a fall of 1.5 per cent in Information & Communications.

 

Business Services and Finance

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Output in Business Services and Finance grew 0.6 per cent, following growth of 2.0 per cent in the previous quarter.

The largest contribution was growth of 0.7 per cent in the Real Estate & Business Services sector. Financial & Insurance Services output grew 0.4 per cent.

 

Government and Other Services

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Output in Government and Other Services remains unchanged in the last two quarters, following a fall of 0.7 per cent in 2011 Q2.

The Other Services sector fell by 1.8 per cent, while there was growth in Education (+0.1 per cent) and Health & Social Work (+0.4 per cent).