This item was published during the term of a previous administration that ended in April 2007
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Figures show GDP growth
26/07/2006
Scotland's economy grew both over the latest quarter and over the year to the first quarter of 2006, according to statistics published today. The GDP 2006 quarter one figures show that Scottish GDP rose by 0.5 per cent compared with the previous quarter, and by 1.9 per cent over the year - a yearly growth equal to that across the UK.
Welcoming the figures, Deputy First Minister Nicol Stephen said:
"Growing the economy is the Executive's top priority and I welcome this confirmation that the Scottish economy is continuing to expand. The continued stability of the Scottish economy is important and we have not experienced negative quarterly growth for four years now.
"The manufacturing sector has exhibited positive growth in the latest quarter, demonstrating that Scottish manufacturers are adapting to the difficult challenges that have been presented to them in an increasingly competitive global market. "Furthermore, Scotland's largest sector - the service sector - performed well and continues to underpin the performance of the Scottish economy.
"We are committed to creating the conditions to maximise sustainable economic growth in the medium and long term and have a comprehensive strategy in place to deliver this.
"Tough challenges are still there, but we remain clearly focused on our key aim of ensuring the conditions are right for economic growth. The labour market is performing well - we have a higher rate of employment than other parts of the UK, Germany, France and the United States. All the independent forecasts predict further positive growth in the Scottish economy for the end of 2006 and in 2007 - good news for business and good news for Scotland."
The statistical publication notice Gross Domestic Product for Scotland for the first quarter of 2006 was issued today. Accompanying tables are available at: www.scotland.gov.uk/gdp or http://www.scotland.gov.uk/Publications/2006/07/GDP2006Q1/SPN2006Q1
The Executive's long-term strategy for sustainable economic development, the Framework for Economic Development in Scotland is available at http://www.scotland.gov.uk/Topics/Economy/Key-Publications/FEDS