- 19 Jun 2019
Gross Domestic Product (GDP) is a measure of the value of goods and services produced by residents, before allowing for depreciation or capital consumption. Net receipts from interest, profits and dividends abroad are excluded.
Scotland’s Gross Domestic Product (GDP) grew by 0.5% in real terms during the first quarter of 2019, following growth of 0.3% in the fourth quarter of 2018. The equivalent growth rate for the UK as a whole during the first quarter was 0.5%.
Compared to the same quarter last year, Scotland's GDP has grown by 1.4%, compared to equivalent UK growth over the same period of 1.8%.
The largest single contribution to growth this quarter came from the manufacturing sector.
Some surveys have linked this increase in Manufacturing to stockpiling for Brexit. The ONS cite the Markit UK Manufacturing PMI for March 2019, which recorded a 13-month high in manufacturing activity due to “companies
stepping up production to build-up inventories in advance of Brexit and to also meet rising inflows of new work”.
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