Scottish Economy Falls By 0.2% In The Third Quarter Of 2022

1st December 2022

The Chief Statistician has released statistics showing that the economy fell by 0.2% during the third quarter of 2022, covering the period July to September.

Monthly statistics also released today show that GDP is estimated to have contracted by 0.6% in September, with decreases across the construction and production sectors.

Change in gross domestic product (GDP) is the main indicator of economic growth. Over the year, compared to the third quarter of 2021, the economy has grown by 2.9%.

During the third quarter output in the Construction sector fell by 0.3%, output in Production contracted by 1.0%, and output in the Services sector remained unchanged (0.0% growth).

The second estimate of GDP for the third quarter of 2022 will be available in Quarterly National Accounts Scotland, published on 1 February 2023.