Scotland's Economy

Response to Scotland’s GDP estimate for May 2021

July 21, 2021 by Kate Forbes MSP No Comments | Category Uncategorized

“It is encouraging to see Scotland’s economy continuing to recover from the pandemic.

“The 0.9% rise in Scotland’s GDP during May is the fourth consecutive monthly increase and output is now 2.7% below its pre-pandemic level in February 2020, having increased from a low of -22.6% in April 2020.

“I am particularly pleased to see further recovery in the service sector as restrictions have eased, and that manufacturing and construction output are above pre-pandemic levels.

“Although conditions remain difficult for many businesses, their resilience and ingenuity, combined with the careful lifting of restrictions, is creating conditions for sustainable growth.

“The Scottish Government is determined to build a greener, fairer and more prosperous economy and our ambitious 10 year National Strategy will drive Scotland’s economic transformation. But we want to do more and I am pressing the UK Government to provide greater financial certainty by guaranteeing COVID-19 consequential payments and relaxing restrictions on borrowing.”

Kate Forbes, Cabinet Secretary for Finance and the Economy

Background

Scotland’s GDP estimate for May 2021 is available online.

Comments