GDP Analysed by Industry Sector
Scottish GDP at constant basic prices – also known as Gross Value Added (GVA) in volume terms – grew by 0.6 per cent during the third quarter of 2012, following a contraction of 0.1 per cent in the second quarter of 2012.
On an annual basis, comparing the most recent quarter to the same quarter in the previous year, GDP growth was 0.4 per cent.
At the broad industry level (Table 2) the production sector grew by 1.9% which included 3.0% growth in manufacturing and growth of 1.9% over the quarter in electricity and gas supply.
The construction sector contracted by 0.4 per cent in 2012 Q3 following growth of 3.7% in Quarter 2 of 2012.
The Services sector, which now accounts for 72.3% of the Scottish Economy, grew by 0.3 % in 2012 Q3. Within services, Distribution, Hotels and Catering grew by 1.1% and Business Services and Finance grew by 0.9%. There were falls in Transport, Storage and Communication, which contracted by 1.5% and Government and Other Services which contracted by 0.1%.
Index of Production
Total production grew by 1.9% during 2012 Q3, following a contraction of 1.8% in the previous quarter.
On an annual basis comparing the latest quarter with the same quarter in the previous year, production output grew by 0.4%.
Index of Construction
Construction output fell by 0.4 per cent during 2012 Q3, following growth of 3.7 per cent in 2012 Q2.
On an annual basis construction output has fallen by 7.1 per cent between 2011 Q3 and 2012 Q3.
Index of Services
Total output in the services sector grew by 0.3 per cent during 2012 Q3, following no change (0.0% growth) in the previous quarter.
On an annual basis comparing the latest quarter with the same quarter in the previous year, service sector output grew by 1.3%.