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| Scottish economy grows by 0.2% at the start of 2018 | Scottish economy grows by 0.2% at the start of 2018 |
| (about 1 hour later) | |
| Official figures indicate the Scottish economy grew by 0.2% in the first quarter of 2018. | Official figures indicate the Scottish economy grew by 0.2% in the first quarter of 2018. |
| The figure is marginally above the equivalent UK GDP growth figure for the quarter, which was 0.1% | The figure is marginally above the equivalent UK GDP growth figure for the quarter, which was 0.1% |
| On a year-on-year basis, Scottish GDP grew by 0.8%. Finance Secretary Derek Mackay said the figure showed Scotland's economy remained "strong". | On a year-on-year basis, Scottish GDP grew by 0.8%. Finance Secretary Derek Mackay said the figure showed Scotland's economy remained "strong". |
| Secretary of State for Scotland David Mundell welcomed the growth in manufacturing. | Secretary of State for Scotland David Mundell welcomed the growth in manufacturing. |
| Services and production continued to grow during the quarter, but construction declined sharply by 3.5%. | Services and production continued to grow during the quarter, but construction declined sharply by 3.5%. |
| For services, the growth figure was 0.4%. Manufacturing grew by 0.9%. | For services, the growth figure was 0.4%. Manufacturing grew by 0.9%. |
| Economic activity was suppressed by unusually severe winter weather. | Economic activity was suppressed by unusually severe winter weather. |
| 'Top destination' | 'Top destination' |
| Mr Mackay said: "Scotland's economy is strong, with output per head the highest in the UK outside London and the south-east. We are also one of the top destinations for inward investment, while Scottish productivity has grown faster than the UK's over the past decade. | Mr Mackay said: "Scotland's economy is strong, with output per head the highest in the UK outside London and the south-east. We are also one of the top destinations for inward investment, while Scottish productivity has grown faster than the UK's over the past decade. |
| "Despite the impact of the 'Beast from the East' our economy continued to grow in the first quarter of 2018, making this the fifth consecutive quarter of growth." | "Despite the impact of the 'Beast from the East' our economy continued to grow in the first quarter of 2018, making this the fifth consecutive quarter of growth." |
| But Mr Mackay claimed that leaving the EU could threaten the future performance of the economy. | But Mr Mackay claimed that leaving the EU could threaten the future performance of the economy. |
| "Our prospects for longer-term growth are threatened by Brexit and the prospect of being taken out of a market around eight times bigger than the UK's market alone," he said. "That is what poses the most serious risk to jobs, investment, prosperity and living standards." | "Our prospects for longer-term growth are threatened by Brexit and the prospect of being taken out of a market around eight times bigger than the UK's market alone," he said. "That is what poses the most serious risk to jobs, investment, prosperity and living standards." |
| For the UK government, Mr Mundell commented: "It is good to see that Scotland's economy is growing - especially in the manufacturing sector - however, over the year, Scotland's economy has lagged behind the UK's. | For the UK government, Mr Mundell commented: "It is good to see that Scotland's economy is growing - especially in the manufacturing sector - however, over the year, Scotland's economy has lagged behind the UK's. |
| "The UK government is investing to boost economic growth through its ambitious modern industrial strategy, and direct investment into Scotland's cities and regions through growth and city deals. | "The UK government is investing to boost economic growth through its ambitious modern industrial strategy, and direct investment into Scotland's cities and regions through growth and city deals. |
| "The Scottish government needs to work with us and use its extensive powers to make sure that it is supporting productivity and growth in Scotland." | "The Scottish government needs to work with us and use its extensive powers to make sure that it is supporting productivity and growth in Scotland." |
| 'Domestic problems' | |
| The body representing small businesses, FSB, said growing business confidence could help "get the economy moving". | |
| FSB external affairs manager for Scotland Stuart Mackinnon said: "These figures show the Scottish economy growing slowly in the first three months of the year, though slightly faster than the UK as a whole. | |
| "With new figures out today showing growing business confidence, it is up to policymakers to nurture this newfound optimism to get the economy moving. | |
| "That means securing a Brexit deal that works for small firms and tackling domestic problems like late payment and poor digital infrastructure." |