Monthly GDP Estimates for July

Scotland’s onshore GDP fell by 0.2% in July, according to statistics announced today by the Chief Statistician.

Output remains 2.4% below the pre-pandemic level in February 2020.

Output in the services sector, which accounts for around three quarters of the economy, grew by 0.4% in July, with increases in nine of the fourteen subsectors.

Output in the production sector contracted by 3.0% in July, with falls in the mining and quarrying, manufacturing, and electricity and gas supply subsectors.

The largest contribution to the fall in GDP was the 9.9% drop in the electricity and gas supply subsector, due to unusually low levels of wind and hydro-generated electricity during the summer.

Output in the construction sector is provisionally estimated to have fallen by 0.4% in July, broadly in line with the UK as a whole over the course of the latest three months.

In the three months to July, GDP is estimated to have grown by 3.4% compared to the previous three-month period.

This reflects a slowdown in growth relative to the Quarter 2 (April to June) estimate of 4.7%.