Scottish GDP grows by 0.3% in the fourth quarter of 2017

April 4, 2018 by No Comments | Category Economy

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).

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