Monthly GDP Estimates for July

Scotland’s onshore GDP grew by 0.3% in July 2024 according to statistics announced by the Chief Statistician. This follows no growth in June 2024 (revised up from -0.3%).

In the three months to July, GDP is estimated to have grown by 0.3% compared to the previous three month period. This indicates a slight decrease in growth relative to the increase of 0.6% in 2024 Quarter 2 (April to June).

The two industries which made the biggest contribution to overall GDP growth in July were Manufacturing and Information and Communications Services, both of which contributed 0.1 percentage points of growth to headline GDP.

Retail, Wholesale & Motor Trades had a 0.1% Percentage point contribution to July GDP.

Sporting events were also one of the main reasons cited for the monthly increase in retail trade in July. Licensed premises noted a positive impact specifically from the European Football Championships; however, some restaurants cited this as negative impact on footfall. Despite falling on the month, some travel agents also noted an increase in bookings because of the Summer Olympics in Paris.

The full document from the Scottish Government can be found here.