Monthly GDP Estimates for January

Scotland’s onshore GDP grew by 0.6% in January 2024, according to statistics announced by the Chief Statistician. This follows unrevised 0.4% growth in December 2023.

In the three months to January, GDP is estimated to have fallen by 0.1% compared to the previous three-month period. This indicates a slight increase in growth relative to the unrevised decrease of 0.6% in 2023 Quarter 4 (October to December).

Output in the services sector, which accounts for around three quarters of the economy, grew by 0.5% in January. Output in the production sector is estimated to have grown by 0.4% in January. The largest contribution to overall GDP came from growth in the output of Professional, Scientific and Technical Services.

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