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Scotland’s economy grows by 0.6%

Finance Secretary John Swinney welcomed the growth news. Picture: Phil Wilkinson

Finance Secretary John Swinney welcomed the growth news. Picture: Phil Wilkinson

GROSS domestic product grew by 0.6% over the second quarter of the year compared with the previous three months, according to Scotland’s Chief Statistician.

The latest GDP release, covering April to June, also shows that output grew by 1.8% compared with the second quarter of last year.

The service sector, which accounts for nearly three-quarters of the economy, was up 0.3%, the production sector was up 1% and construction activity grew by 2.1%.

Finance Secretary John Swinney said: “These positive figures highlight the significant economic progress being made in Scotland. While times remain challenging, Scotland’s economy has grown faster than the UK over the last year to quarter two, with employment now at a five-year high and the economy growing for the fourth consecutive quarter.

“This continued growth in Scotland’s economy is helping to create more jobs and opportunities for the people of Scotland.

“The services industry has grown for the fourth consecutive quarter and there has been substantial quarterly growth in the construction sector which is being supported by Scottish Government’s investment in building projects across the country.

“Our concern is that Westminster’s pursuit of austerity over economic recovery with at least five more years of cuts to public spending, further welfare reform and the failure of the Work Programme to properly support people could derail Scotland’s recovery.

“With the full fiscal and economic powers of independence, the Scottish Government could do yet more to strengthen our economy and create more jobs.”

 

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