Monthly GDP Estimates for June

Scotland’s onshore GDP remained flat (0.0% change) in June, according to statistics announced today by the Chief Statistician. This follows 0.0% change in May (revised up from -0.2%).

In June, output in the services sector, which accounts for around three quarters of the economy, is estimated to have grown by 0.3%. This was offset by a reduction of 1.8% in the Production sector.

In the three months to June, GDP is estimated to have fallen by 0.3% compared to the previous three month period. This reflects a decline in the economy during the second quarter of 2023, after the 0.2% growth in Quarter 1 2023 (January to March) reported in the Quarterly National Accounts released 26 July 2023.

Background

Monthly GDP estimates for June 2023

GDP quarterly first estimate for 2023 Q2

Gross Domestic Product (GDP) measures the output of the economy in Scotland. The monthly estimates are designated as experimental official statistics. This means that they are still in development but have been released to enable their use at an early stage.

All results are seasonally adjusted and presented in real terms (adjusted to remove inflation). Headline GDP 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 on the Scottish Government website.

These estimates are compiled in line with the Code of Practice for Statistics – more information on the standards of official statistics can be accessed online.