Scotland’s economy grows 0.3 per cent in Q3

Due to methodology improvements implemented over the summer the Quarter 3 data are being published four weeks earlier than in previous years.

Change in gross domestic product (GDP) is the main indicator of economic growth in Scotland.

The first estimate of Scotland’s GDP statistics, covering the period July to September 2018, show that the economy grew by 0.3 per cent in real terms compared to the previous quarter. Over the year compared to the third quarter of 2017, the Scottish economy has grown by 1.5 per cent.

During the third quarter of 2018 output in the Services sector grew by 0.3 per cent, output in Production contracted by -0.7 per cent and output in the Construction sector grew by 2.7 per cent.

The second estimate of Scotland’s GDP for 2018 Quarter 3 will be available in Quarterly National Accounts Scotland, published on 30 January 2019.

The full statistical publication and data are available at: www.gov.scot/Topics/Statistics/Browse/Economy/PubGDP/GDP2018Q3

Scotland’s finance secretary, Derek Mackay, welcomed the fact the country’s economy had grown for the fifth consecutive quarter.

But he again said the “key risk” to Scotland’s economy over the next year continues to be the “uncertainty associated with Brexit, and in particular the risk of a ‘no-deal’ Brexit, which is impacting on business confidence and investment.”

The UK government’s Scottish secretary, David Mundell, said he concerned that Scotland is now “lagging behind the rest of the UK”.

He urged the Scottish government to use the “vast powers at its disposal to close this growth gap”, and said the prime minister’s proposed Brexit deal would “protect jobs and prosperity”.