GDP Monthly Estimate: October 2023

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

Scotland’s onshore GDP is estimated to have fallen by 0.5% in October. This follows unrevised growth of 0.1% in September.

In the three months to October, GDP is estimated to have grown by 0.2% compared to the previous three month period. This indicates a fall in growth, relative to the increase of 0.4% in 2023 Quarter 3 (July to September).

In October, output in the services sector, which accounts for around three quarters of the economy, is estimated to have grown by 0.1%, after falling 0.5% in September. Production sector output contracted by 3.3% in October, with a contraction of 7.9% in Electricity and Gas Supply (after strong growth in September) making the largest contribution to the overall GDP result.


Back to top