Monthly GDP Estimates for August

Scotland’s onshore GDP contracted by 0.3% in August 2024, according to statistics announced by the Chief Statistician. This follows revised growth of 0.5% in July 2024.

In the three months to August, GDP is estimated to have grown by 0.1% compared to the previous three month period. This indicates an decrease in growth relative to the growth of 0.4%  (revised from 0.6%) in 2024 Quarter 2 (April to June).

In August, the largest contribution to headline GDP was made by the Information & Communications sector which contracted by 3.2%, contributing -0.2 percentage points to the overall contraction. The largest positive contribution was made by the Education sector which grew by 1.4%, contributing 0.1 percentage points towards GDP.

Background

The quarterly statistical publication and data and the monthly statistical publication and data are available online.

All results are seasonally adjusted and presented in real terms (adjusted to remove inflation). GDP growth relates to Scotland’s onshore economy, which means it does not include the output of offshore oil and gas extraction.

Gross Domestic Product (GDP) measures the output of the economy in Scotland and are designated as official statistics in development. This means that they are still in development but have been released to enable their use at an early stage. All results are provisional and subject to relatively high levels of uncertainty.

Further information on GDP statistics is available online. 

These estimates are compiled in line with the Code of Practice for Statistics.