GDP Monthly Estimate: August 2023

Main Findings

• Scotland’s onshore GDP is estimated to have grown by 0.1% in August. This follows growth of 0.2% in July (revised up from 0.1% in the previous publication).
• In the three months to August, GDP is estimated to have remained constant (0.0% growth) compared to the previous three month period. This indicates an increase in growth during the third quarter of the year so far, relative to the fall of 0.3% in 2023 Quarter 2 (April to June). Further information on quarterly GDP can be found in the Quarterly National Accounts Scotland 2023 Quarter 2.
• In August, output in the services sector, which accounts for around three quarters of the economy, is estimated to have grown by 0.5%, after falling by 0.3% in July. Production sector output fell by 1.1% in August, with the fall of 2.3% in manufacturing making the largest negative contribution to the overall GDP result.