Scottish economy begins to shrink again
ECONOMIC growth in Scotland has slowed in the last three months, official statistics show.
Scotland’s gross domestic product, which measures the value of goods and services, grew by just 0.1 per cent during the second quarter of 2011 following growth of 0.2 per cent in the first quarter.
On an annual basis, comparing the most recent four quarters with the previous four quarters, GDP grew by 1.1 per cent.
Quarterly growth matched the UK-wide figure, also just 0.1 per cent, but annual growth was lagging behind the UK economy which grew 1.5 per cent.
The construction sector made a “significant negative contribution” to growth, with output falling 2.3 per cent.
The largest contribution came from the production sector (1.7 per cent), following a decline last quarter. This was largely driven by strong growth in electricity, gas and water supply (12.4 per cent) and growth in manufacturing (0.2 per cent).
Total output in the services sector increased by 0.1 per cent, largely due to increasing growth in distribution, hotels and catering (1 per cent). ‘However, there were small declines in other sub-sectors.
Email to a friend
Print this page- Family mourn death of Glasgow ‘fight’ schoolboy
- Rangers takeover: Duff & Phelps threaten legal action against BBC
- Today’s youth not fit to be employed, says car firm Arnold Clark
- Rangers administration: Fans fear Duff & Phelps claims could scare off Green
- Rangers takeover: triple penalty punishment enough, says Johnston
- Alistair Darling leads ‘No to independence’ fight over tea and biscuits
- Scottish independence: SNP flip-flops over Nato
- Scottish Independence: SNP ‘won’t be Yes campaign’s only voice’
- Scottish independence: Alex Salmond’s pledge to sign up 1m voters
- Today’s youth not fit to be employed, says car firm Arnold Clark
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Sunday 27 May 2012
Today
Sunny
Temperature: 10 C to 22 C
Wind Speed: 12 mph
Wind direction: North east
Tomorrow
Sunny
Temperature: 9 C to 21 C
Wind Speed: 12 mph
Wind direction: North east
Your view
Please sign in to be able to comment on this story.