Scots GDP up 16% in Q3 as construction grows 52%

Scotland’s Chief Statistician has released new statistics showing that the Scottish economy grew by 16% during the third quarter of 2020, covering July to September, as lockdown measures were eased.

Over the year, compared to the third quarter of 2019, the economy has contracted by 9.5%.

Output in the construction sector grew by 52% in the third quarter, while output in production contracted by 18.6% and output in the services sector contracted by 13.8%.

“The largest single contribution to change this quarter came from growth in Distribution, Hotels & Catering (within Services), but there was growth across all industries,” said the latest report.

The second estimate of GDP for the third quarter of 2020 will be available in Quarterly National Accounts Scotland, published on February 3, 2021.

The first estimate of GDP for the fourth quarter of 2020 will be published on March 24, 2021.

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.