The Scottish economy grew 0.3% in the fourth quarter of 2017, according to statistics announced by Scotland’s chief statistician. UK GDP growth for this quarter was 0.4%.
This is the fourth consecutive quarter of positive growth in Scotland.
The Scottish economy grew 1.1% compared to the fourth quarter of 2016 — compared to annual growth for the UK of 1.4%.
Taken over the year, Scotland’s annual GDP increased 0.8% in 2017, improving on Scotland’s economic performance in 2016 when GDP grew by 0.2%.
In the latest quarter, growth was driven by a number of sectors, with the largest contributions from business services and finance, distribution, hotels and catering, manufacturing, and electricity and gas supply.
The services sector grew by 0.5% and the production sector grew by 0.9%.
While construction sector output fell by 2.6%, it remains around 15% higher than at the beginning of 2014.
Minister for Employability and Training Jamie Hepburn said: “With four consecutive quarters of positive growth in 2017, Scotland’s economy continues to show strength.
“Compared to the same point in 2016, Scotland’s economy grew by 1.1%, growing 0.3% during the final quarter of 2017.
“These figures are welcome, but we are determined to do more to grow our economy and protect Scotland from the headwinds of Brexit.
“The Scottish Government is investing a record £2.4 billion in enterprise and skills, £4 billion in new infrastructure and £600 million in broadband, to ensure every home or business premise in Scotland has access to superfast broadband and that we can secure the benefits of the digital economy — a commitment unmatched across the UK.
“And we are preparing for the future with investments in a new National Manufacturing Institute and the establishment of the Scottish National Investment Bank.
“As we face the potential impact of Brexit to come, the Scottish Government is determined to protect Scotland’s economy and ensure our potential is not derailed by damaging decisions of the UK Government.”