Scottish Monthly GDP Estimates For February

26th April 2023

Scotland's onshore GDP grew by 0.2% in February, according to statistics announced today by the Chief Statistician. This follows revised growth of 0.7% in January and a fall of 0.5% in December.

In the three months to February, GDP is estimated to have grown by 0.4% compared to the previous three month period. This reflects an improvement in the economy during the first quarter of 2023 so far, after the upwardly revised growth of 0.2% in Quarter 4 2022 (October to December) reported in the Quarterly National Accounts also released today.

In February, output in the services sector, which accounts for around three quarters of the economy, is estimated to have grown by 0.4%. At the broad level, output in consumer facing services grew by 1.3%, while health, education and public services output grew by 0.8%, and output in all other services fell by 0.1%. In the other parts of the economy, output in the production sector fell by 1.3% during February, while construction output increased by 2.3%.

Read monthly GDP estimates for February 2023