Economy Grows 0.3% In The Third Quarter Of 2019

18th December 2019

The Chief Statistician has released statistics showing that the economy in Scotland grew by 0.3% during the third quarter of 2019, covering the period July to September.

During the third quarter output in the construction sector remained flat, output in production grew by 0.9% and output in the services sector grew by 0.2%.

Change in gross domestic product (GDP) is the main indicator of economic growth. Over the year compared to the third quarter of 2018, the economy has grown by 0.7%.

Finance Secretary Derek Mackay said:"While it is good news the economy has grown in the last quarter, it is unsurprising the overall pace of growth has slowed as a result of the continued uncertainty around Brexit.

“Scotland has a strong economic foundation with a lower unemployment rate than the UK and we will continue to do all we can to stimulate growth, jobs and investment and help build economic resilience.

“However, Brexit remains the biggest threat to our economy. Just this week the Prime Minister has put the risk of a ‘no deal' Brexit back on the table by ruling out any extension to the transition period. This would be catastrophic for Scotland’s economy."