Scottish Q4 growth figures revised upwards

Scottish Q4 growth figures revised upwards

Scotland’s economy shrank less than thought in the October to December period, official figures revealed today.

GDP was revised upwards to a contraction of 0.4% rather than an earlier estimate of 0.5%. The contraction was attributed to the bad weather during the quarter which impacted on many businesses.

On an annual basis, meanwhile, the economy expanded by 0.8%.

Meanwhile, figures revealed that services sector output fell by 0.1%, the production industry fell 0.5% and manufacturing declined by 0.6% during the final three months of the year.

However, construction sector output rose 11% on an annual basis.

The figures come just a week after the Scottish Chambers of Commerce suggested the economy stalled in the first three months of the year.

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