The Scottish Government

The main findings of the latest figures are:

• GDP rose in Scotland by 1.8 per cent annually and increased by 0.1 per cent in the second quarter of 2008 (seasonally adjusted).
• In the year to end-June 2008, the Scottish service sector grew by 3.0 per cent, the production sector fell by 0.8 per cent and the construction sector fell by 3.7 per cent.
• In the second quarter of 2008, the service sector grew by 0.1 per cent, the production sector grew by 0.2 per cent and the construction sector fell by 0.4 per cent.

UK Figures:

• The UK figures show that GDP rose by 2.5 per cent in the year to end-June 2008 and growth was flat in the second quarter of 2008.
• Over the year, the UK experienced 3.1 per cent growth in services, 0.2 per cent growth in production and the construction sector grew by 2.8 per cent.
• In the second quarter of 2008, the UK service sector grew by 0.2 per cent, the production sector declined by 0.7 per cent and the construction sector declined by 0.5 per cent.

Industry Analysis:

• In the second quarter of 2008, the service sector in Scotland grew by 0.1 per cent.
• Within services, retail & wholesale (+1.7%), other services (+1.0%) and transport, storage and communication (+2.6%) all experienced growth over the quarter.
• Following a sharp fall in the first quarter of 2008, the Scottish financial services industry has experienced another smaller fall (-1.0%) in the second quarter of 2008.
• Real estate & business services fell by 1.0 per cent over the quarter along with modest falls being seen in public administration, education & health (-0.1%) and hotels & catering (-1.0%).
• Output in the production sector increased by 0.2 per cent in the latest quarter.
• Within production, manufacturing grew by 0.7 per cent over the quarter whilst mining and quarrying (-1.6%) and the electricity, gas & water supply industry (-2.5%) fell over the quarter.
• Within manufacturing, chemicals & man-made fibres (+1.4%) grew and food, drink & tobacco (-1.5%) fell over the quarter. Engineering & allied industries grew by 1.9 per cent over the quarter, with growth of 1.5 per cent in mechanical engineering, 0.8 per cent in electrical & instrument engineering and 3.9 per cent in transport equipment. Metals and metal products grew by 2.5 per cent in the latest quarter along with other manufacturing (+0.9%) and textiles, footwear, leather & clothing (+1.8%).