Monthly GDP Estimates for November

According to data disclosed by the Chief Statistician, Scotland's onshore GDP experienced a decrease of 0.1% in November, following a revised contraction of 0.6% in October 2023 (previously reported as -0.5%).

Over the three months leading up to November, GDP is approximated to have shrunk by 0.2% compared to the preceding three-month period. This suggests a deceleration in quarter-to-quarter growth, contrasting with the unrevised 0.4% increase in Quarter 3 of 2023 (July to September) as reported in the Quarterly National Accounts released concurrently.

The services sector, constituting approximately three quarters of the economy, saw a growth of 0.4% in November. Meanwhile, the production sector is estimated to have contracted by 3.1% during the same month, mainly influenced by the downturn in the output of Electricity and Gas Supply, which made the most significant contribution to the overall GDP decline. 

You can find the full publication on the GDP Monthly Estimate here.