Scottish economy grows 0.4%

16th October 2016

Newsroom News Scottish economy grows 0.4%

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Scottish economy grows 0.4%
Downloads 12/10/2016 09:30
Scotland Business and Industry Economy
A National Statistics Publication for Scotland.

Scottish GDP grew by 0.4% during the second quarter of 2016, according to statistics announced today by Scotland's Chief Statistician.

Change in gross domestic product (GDP) is the main indicator of economic growth in Scotland. The latest Gross Domestic Product release, covering the period April to June 2016, shows that total output in the economy grew by 0.4% compared to the previous three months. On an annual basis, compared to the second quarter of 2015, Scottish GDP grew by 0.7%.

The services sector, which accounts for three quarters of the economy, grew by 0.5% during the latest period, the production sector grew by 0.3%, and construction output contracted by 1.9%.

Industries which represent a large proportion of the economy or which have big quarterly changes have the most impact on overall GDP. We calculate how much industries contribute to the overall change in GDP.

The industry which has had the greatest contribution to growth is Business Services & Finance, which accounted for 0.4 percentage points of growth in the Scottish economy in quarter 2 2016.

The industry which has had the greatest contribution to contraction is and Electricity & Gas, which both accounted for 0.2 percentage points of contraction in the Scottish economy in quarter 2 2016.