Scottish economy grows 0.3% in 2017 Quarter 4

The Scottish economy grew by 0.3% during the fourth quarter of 2017, according to statistics announced today by Scotland’s Chief Statistician.

Change in gross domestic product (GDP) is the main indicator of economic growth in Scotland. The latest GDP statistics, covering the period October to December 2017, show that the economy grew by 0.3% in real terms compared to the previous quarter. Compared to the fourth quarter of 2016, the Scottish economy grew by 1.1%.

During the fourth quarter of 2017 output in the Services sector grew by 0.5%, output in Production grew by 0.9% and output in the Construction sector fell by 2.6%.

In 2017 as a whole, annual GDP increased by 0.8% compared to 2016.

Scotland’s GDP per person, which is adjusted to account for changes in the size of the population, increased by 0.2% during the fourth quarter of 2017.

Background

The full statistics publication, including detailed quarterly results back to 1998, is available at: http://www.gov.scot/Topics/Statistics/Browse/Economy/PubGDP/GDP2017Q4

Further information on Scottish economic statistics is available at http://www.scotland.gov.uk/Topics/Statistics/Browse/Economy

All data in this bulletin have been adjusted to allow for meaningful comparisons over time. Estimates are seasonally adjusted and have had the effect of price changes removed to present the results in real terms. GDP growth in this publication relates to what is commonly referred to as Scotland’s onshore economy, which means they exclude all offshore oil and gas extraction.

These estimates are compiled in line with the Code of Practice for Official Statistics – more information on the standards of official statistics in Scotland can be accessed at: http://www.scotland.gov.uk/Topics/Statistics/About