Monthly GDP Estimates For December For Scotland

28th February 2024

Scotland's onshore GDP grew by 0.4% in December, according to statistics announced today by the Chief Statistician. This follows 0.8% contraction in October and no growth (0.0% change) in November. Change in gross domestic product (GDP) is the main indicator of economic growth.

In December, output in the services sector, which accounts for around three quarters of the economy, is estimated to have remained flat (0.0% change), after growth of 0.6% in November. Production sector output grew by 2.6% in December, with growth of 11.0% in Electricity and Gas Supply making the largest contribution to the overall GDP result.

In the three months to December, GDP is estimated to have fallen by 0.6% compared to the previous three month period. This follows growth of 0.4% in the previous three month period (July to September).

In 2023 Scotland’s GDP grew by 0.2% compared to 2022.