Scottish Economy Contracts 0.2%
5th April 2017
The output of the Scottish economy contracted by 0.2% during the fourth 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 October to December 2016, shows that total output in the economy contracted by 0.2% compared to the previous three months. On an annual basis, compared to the fourth quarter of 2015, the output of the Scottish economy was flat (0.0% change).
During the fourth quarter of 2016 output in the services industry in Scotland was flat (0.0% change), while production contracted by 0.9% and construction contracted by 0.8%.
Over the calendar year (i.e. 2016 vs 2015), the Scottish economy grew by 0.4%.
Industries which represent a large proportion of the economy or which have big quarterly changes have the most impact on overall GDP. The industry which has had the greatest contribution to change in the output of the Scottish economy in the fourth quarter of 2016 is Production (which accounted for 0.2 percentage points of contraction).