- 18 Sep 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) contracted by 0.3% in real terms during the second quarter of 2019, following growth of 0.6% in the first quarter of 2019. The equivalent growth rate for the UK as a whole during the second quarter was -0.2%.
Compared to the same quarter last year, Scotland's GDP has grown by 0.7%, compared to equivalent UK growth over the same period of 1.2%.
The largest single contribution to change this quarter came from the Manufacturing sector, particularly Pharmaceuticals and Spirits & Wines.
The biggest falls have occured in sectors which showed large increases in the previous quarter. The previous growth was likely to be due to stockpiles being built or work being brought forward ahead of the original planned exit date from the European Union.
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