Economy grows by 0.4% in the first quarter of 2023

The Chief Statistician has released statistics showing that the economy grew by 0.4% during the first quarter of 2023, covering the period January to March.

Monthly statistics also released today show that GDP is estimated to have remained flat (0.0% change) in March.

Change in gross domestic product (GDP) is the main indicator of economic growth. Over the year, compared to the first quarter of 2022, the economy has grown by 0.3%.

During the first quarter output in the Construction sector grew by 0.7%, output in Production grew by 0.8%, and output in the Services sector grew by 0.2%.

The second estimate of GDP for the first quarter of 2023 will be available in Quarterly National Accounts Scotland, published on 26 July 2023.

The quarterly statistical publication and data are available here.

The monthly statistical publication and data are available here.