GDP monthly estimate: December 2023

Gross Domestic Product (GDP) statistics measure changes in the output of the economy. This is an Official Statistics in Development publication for Scotland.

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Key Points

Scotland’s onshore GDP is estimated to have grown by 0.4% in December. This follows no growth (0.0% change) in November (revised from -0.1%) and a 0.8% contraction in October (revised from -0.6%).

In Quarter 4 as a whole (October to December), GDP is estimated to have contracted by 0.6%, following growth of 0.4% in Quarter 3 (July to September). Further information on quarterly GDP can be found in the First Estimate of GDP for 2023 Quarter 4.

In December, output in the services sector, which accounts for around three quarters of the economy, is estimated to have remained flat (0.0% change), after growth of 0.6% in November. Production sector output grew by 2.6% in December, with growth of 11% in Electricity and Gas Supply making the largest contribution to the overall GDP result.


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