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THIS IS NOT THE LATEST GDP RELEASE

updated statistics for GDP in real terms by industry are available in the GDP First Estimate for 2019 Q3

The second estimate of GDP growth and other Quarterly National Accounts tables will published on 29 January 2019

GDP Quarterly National Accounts, 2019 Quarter 2

GDP Quarterly National Accounts, ScotlandNational Statistics Badge

2019 Quarter 2        

A National Statistics publication for Scotland

 

Date: 30 October 2019

 

This publication includes the updated second estimate of onshore GDP growth in real terms, additional breakdowns of GDP in nominal (cash) terms, and key household sector statistics.

Downloads

Publication

     Full Statistical Publication (pdf)

2 Page Summary of Key Results

     GDP growth in real terms (pdf)

​​Data in in this release

     GDP by industry in real terms tables (xlsx dataset)

     Other Quarterly National Accounts summary tables (xlsx dataset)

     Detailed supplementary tables (xlsx dataset)

Headline Results
  • Scotland’s GDP is estimated to have fallen by 0.2% in real terms during the second quarter of 2019, revised up from the first estimate of a 0.3% fall. The equivalent growth rate for the UK as a whole was a fall of 0.2%.
  • Compared to the same quarter last year, Scotland’s GDP has grown by 0.6%, revised down from the first estimate of 0.7%. Equivalent UK growth over the year was 1.3%.
  • For 2018, the latest estimate of Scotland’s annual GDP growth is 1.4% compared to 2017. Equivalent annual UK growth was 1.4%.
  • As reported in the first estimate published in September, the largest contributions to falling output were in Manufacturing, particularly in industries which had seen large increases at the start of the year linked to stockpiling behaviour.
  • Over the latest year, the level of households’ disposable income has increased by 4.2% in current prices (unadjusted for inflation), while consumer spending is estimated to have increased by 0.7%. As a result, the household savings ratio has increased to 5.0 per cent, up from 1.7 per cent at the same point last year. This indicates that whilst consumer spending has slowed, the savings ratio may have begun to recover after falling sharply in 2017 and 2018.

 

About the GDP Quarterly National Accounts

This publication includes the second estimate of onshore GDP growth for 2019 Quarter 2 (April-June), which uses additional data released since the GDP First Estimate published on 18 September. This release is comparable to the UK Quarterly National Accounts for Quarter 2.

This publication also includes routine updates to data for previous quarters. As a result, all estimates, including GDP growth, have been open for revision back to 2017 Q1.

In addition to the second estimate of onshore growth in real terms, the GDP Quarterly National Accounts also includes:

  • Total GDP in cash terms for the onshore economy and the wider economy including offshore activities

  • Onshore GDP in cash terms broken down using all three of the output, expenditure and income approaches

  • The Index of Manufactured Exports (IME) in real terms

  • Household Sector income and expenditure accounts for Scotland, including Gross Disposable Household Income (GDHI) and the Savings Ratio;

  • Public sector revenues.

 

 

Correction: 27 November 2019 An error was discovered in Supplementary Table 10 and has now been corrected. There was no impact on the results in the Other Summary Tables or quoted in the publication.

12 December 2019: an error was discovered in experimental Summary Table X3 and has now been corrected.

The previous version of the tables can be accessed here