Scottish economic recovery continues

The latest gross domestic product (GDP) figures for Scotland show that the economy grew 0.7 per cent in the third quarter of 2013.

The growth means that the Scottish economy has grown over six consecutive quarters and has seen acceleration in the rate of growth across the period.

The latest National Statistics figures reveal strong performances in the construction, services and manufacturing sectors.

Key numbers include:

  • GDP grew by 2.1 per cent in Q3 2013 compared to the same quarter in 2012
  • The services and construction sectors both grew by 0.7 per cent in Q3
  • The production sector grew by 0.6 per cent in Q3
  • Over the year: services grew by 1.8 per cent; construction by 2.8 per cent; and production by 3.0 per cent.

Scotland's Finance Secretary John Swinney said:

"It is positive to see that progress has been made in our three major sectors with construction, production and services industries all posting growth. The increase in continued growth in these sectors ensures that we can continue to help build sustainable economic growth for Scotland which will strengthen our economy and create jobs."

Commenting on the figures, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:

"The good news is that growth is widely based across a large number of sectors, although much of the growth remains rooted in increasing levels of consumer demand. As we enter 2014, we are looking for increased evidence of rising investment to provide a solid basis for continued growth."