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Monthly GDP estimates for December

Monthly GDP estimates for December

 


An official publication of developing statistics for Scotland.

Scotland's gross domestic product rose by 0.4% in December, according to figures released today by the chief statistician. This follows a contraction of 0.8% in October and no growth (0.0% change) in November. The change in gross domestic product (GDP) is the main indicator of economic growth.

In December, output in the services sector, which accounts for about three-quarters of the economy, is estimated to have remained unchanged (0.0% change), following a 0.6% increase in November. Manufacturing sector output increased by 2.6% in December, with the 11.0% increase in Electricity and Gas Supply making the biggest 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 quarter. This comes after the increase of 0.4% in the previous quarter (July-September).

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

Background

Quarterly publication and statistical data, as well as monthly publication and statistical data are available online.

All results are seasonally adjusted and presented in real terms (adjusted to remove inflation). GDP growth in this edition relates to Scotland's onshore economy, meaning it does not include production from offshore oil and gas extraction.

Further information on GDP statistics is available online.

These ratings are compiled in accordance with Code of Practice for Statistics which provides more information on official statistics standards.

Sources

1/ https://Google.com/

2/ https://www.gov.scot/news/monthly-gdp-estimates-for-december-2/

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