Scottish economy reports year of growth

The latest publication from Scotland’s chief statistician confirms the original estimate of 0.3 per cent growth in the final quarter, but revises downwards the overall 2018 figure from 1.4 per cent.

The report indicates the services sector and construction continued to grow, but production fell by 0.8 per cent.

Growth for services was calculated at 0.5 per cent, and for construction at 0.4 per cent.

A Scottish government spokeswoman said: “In 2018, the value of Scotland’s GDP per person increased to £32,800 - higher than the UK average of £31,900.

“Growing Scotland’s economy and supporting businesses and jobs is a top priority for the Scottish government.

“We have provided more than £5bn of capital investment to grow and modernise Scotland’s infrastructure and we are providing the most generous package of non-domestic rates relief anywhere else in the UK.”

She added: “However, the UK’s EU exit remains the biggest threat to our economic stability. All forms of exit will cost jobs, make people poorer, damage our society and undermine the democratic decision of the people of Scotland to remain in the EU.”