Scottish GDP grows by 0.3% in the fourth quarter of 2017
The latest estimate of Scotland’s GDP shows growth of 0.3% since the third quarter of 2017. In the previous quarter the Scottish economy grew by 0.2%.
UK GDP growth for this quarter was 0.4%.
Scottish GDP grows by 1.1% over the year
On an annual basis, compared to the fourth quarter of 2016, Scottish GDP grew by 1.1%. Annual growth in the UK was 1.4%.
Production industries grew by 0.9% this quarter
Since the third quarter of 2017, Production industries grew by 0.9%, while Services industries grew by 0.5%.
Construction continued to contract (by 2.6% in the quarter) following steep growth in 2014 and 2015.
Growth this quarter driven by Services
Services industries contributed 0.4 percentage points towards overall growth of 0.3%. Further growth in Production industries (0.2 pp) was offset by contraction in Construction (-0.2 pp).