Monthly GDP Estimates for December

Scotland’s onshore GDP grew by 0.4% in December, according to statistics announced today by the Chief Statistician. This follows 0.8% contraction in October and no growth (0.0% change) in November. Change in gross domestic product (GDP) is the main indicator of economic growth. 

In December, output in the services sector, which accounts for around three quarters of the economy, is estimated to have remained flat (0.0% change), after growth of 0.6% in November. Production sector output grew by 2.6% in December, with growth of 11.0% in Electricity and Gas Supply making the largest contribution to the overall GDP result.

In the three months to December, GDP is estimated to have fallen by 0.6% compared to the previous three month period. This follows growth of 0.4% in the previous three month period (July to September).

In 2023 Scotland’s GDP grew by 0.2% compared to 2022.

Background

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

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

Further information on GDP statistics is available online. 

These estimates are compiled in line with the Code of Practice for Statistics – which provides more information on the standards of official statistics.