How is the Scottish Economy performing?

Gross Domestic Product, or GDP, is a measure of the total amount of goods and service produced. The Scottish Government produce a number of reports on GDP. This briefing looks at how the Scottish economy is performing based on these reports.

Index numbers are used in this briefing to measure changes and simplify comparisons. The figures used are compared against a base year of 2012

Record breaking eleven in a row

Scotland has now enjoyed the longest period of unbroken growth on record with eleven consecutive quarters of unbroken growth. The current series of GDP figures stretch back to 1998 and the recent figures show the longest stretch of continuous growth since devolution. The two previous quarters (quarters 2 and 3 in 2012) showed the economy at a standstill so for twelve quarters in a row Scotland has avoided a fall.

The latest figures show Scottish GDP grew by 0.1% during the second quarter of 2015

The Scottish Government suggested that the figures “show that the Scottish economy has grown for twelve consecutive quarters”. There are eleven consecutive quarters of economic growth shown in the statistical bulletin and results tables published today (7.10.2015).

Interactive content Growth in the Economy on the previous quarter (%)

Data not published as part of the statistical bulletin or the results tables was made available by the Scottish Government to SPICe today (7/10/15). The published National Statistics GDP index shows GDP to one decimal place with the additional internal data provided by the Scottish Government showing GDP to six decimal places.

Based on the additional internal data the GDP for 2012 quarter 3 was 99.71 and quarter 2 was 99.68 both shown as 99.7 in the results table. The growth between these two quarters was 0.0% (rounded to one decimal place) and 0.03% rounded to two decimal places.

While the Scottish Government GDP publication presents figures rounded to one decimal place, underlying unrounded data is normally published at the time of the Quarterly National Accounts four weeks after the GDP release.

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Every effort is made to ensure that the information contained in SPICe briefings is correct at the time of publication. Readers should be aware however that briefings are not necessarily updated or otherwise amended to reflect subsequent changes.

About the briefing

Author: Richard Marsh

Last updated: 07 October 2015

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