Monthly GDP Estimates For May

3rd August 2024

Scotland's onshore GDP grew by 0.3% in May 2024, according to statistics announced by the Chief Statistician. This follows growth of 0.2% in April 2024.

In the three months to May, GDP is estimated to have grown by 0.9% compared to the previous three month period. This indicates an increase relative to the growth of 0.5% in 2024 Quarter 1 (January to March).

Output in the services sector, which accounts for around three quarters of the economy, grew by 0.6% in May. Output in the production sector is estimated to have contracted by ‑2.2% in May. The largest contribution to overall GDP came from contraction in the output of Electricity & Gas Supply.