Scottish GDP grows by 0.8% in the first quarter of 2017

July 5, 2017 by No Comments | Category Economy

Scottish GDP grows by 0.8% in the first quarter of 2017

The latest estimate of Scotland’s GDP shows growth of 0.8% since the fourth quarter of 2016. In the previous quarter the Scottish economy contracted by 0.2%.

UK GDP growth for this quarter was 0.2%.

Scottish GDP grows by 0.7% over the year

On an annual basis, compared to the first quarter of 2016, Scottish GDP grew by 0.7%. Annual growth in the UK was 2.0%.

Production industries grew by 3.1% this quarter

In the first quarter of 2017 Production industries grew by 3.1%, Services industries grew by 0.3% and Agriculture, Forestry and Fishing Industries grew by 0.4%.

Construction continued to contract (by 0.7% in the quarter) following steep growth in 2014 and 2015.

Growth this quarter driven by Production

Of the 0.8% growth in Scottish GDP this quarter, 0.6 percentage points came from Production industries (particularly Manufacturing).

The remaining 0.2 percentage points came from Services industries.

Improvements this quarter

A visual summary of the key findings from this publication is available alongside this publication.