GDP monthly estimate: August 2022

• Scotland’s onshore GDP is estimated to have fallen by 0.3% in August, after remaining flat (0.0% growth) in July, and is now 0.1% below the pre-pandemic level in February 2020.
• Output in the services sector, which accounts for around three quarters of the economy, is estimated to have fallen by 0.3% in August. At the broad level, output in consumer facing services fell by 2.4%, while health, education and public services output fell by 0.4%, and output in all other services grew by 0.3%.
• Overall output in production, construction and agriculture fell by 0.1% compared to the previous month.
• In the three months to August, GDP is estimated to have fallen by 0.8% compared to the previous three month period (March to May). This reflects a contraction during Quarter 3 so far, after output remained flat (0.0% growth) in 2022 Quarter 2 (April to June). Further information on quarterly GDP can be found in the Quarterly National Accounts for 2022 Quarter 2.

All results are seasonally adjusted and presented in real terms (adjusted to remove inflation), and relate to Scotland’s onshore economy (which does not include offshore oil and gas extraction)