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Scottish economy grows by 0.7% in third quarter of 2013 | Scottish economy grows by 0.7% in third quarter of 2013 |
(35 minutes later) | |
The Scottish economy grew by 0.7% in the third quarter of last year, according to official estimates. | |
It was the sixth consecutive quarter to show growth north of the border, but was slightly lower than the UK as a whole. | |
Comparing the quarter with the same period in 2012, Scottish Gross Domestic Product (GDP) grew by 2.1%. | |
Construction, manufacturing and services all performed strongly between July and September. | |
Both the services and construction sectors grew by 0.7% while production grew by 0.6%. | Both the services and construction sectors grew by 0.7% while production grew by 0.6%. |
Over the year, services grew by 1.8%, construction by 2.8% and production by 3%. | Over the year, services grew by 1.8%, construction by 2.8% and production by 3%. |
The latest figures were released in the Scottish government's latest GDP statistical bulletin. | The latest figures were released in the Scottish government's latest GDP statistical bulletin. |
'Recovery accelerating' | 'Recovery accelerating' |
Finance Secretary John Swinney said: "Today's statistics show further strengthening in Scotland's economy with the recovery accelerating, even against a backdrop of continuing economic challenges. | Finance Secretary John Swinney said: "Today's statistics show further strengthening in Scotland's economy with the recovery accelerating, even against a backdrop of continuing economic challenges. |
"Growth in Scotland's economy has increased and strengthened over the last 18 months and this Scottish government will continue to support growth in key areas to boost Scotland's success." | "Growth in Scotland's economy has increased and strengthened over the last 18 months and this Scottish government will continue to support growth in key areas to boost Scotland's success." |
Mr Swinney said it was positive to see growth in the three major sectors of construction, production and services. | Mr Swinney said it was positive to see growth in the three major sectors of construction, production and services. |
He continued: "The increase in continued growth in these sectors ensures that we can continue to help build sustainable economic growth for Scotland which will strengthen our economy and create jobs." | He continued: "The increase in continued growth in these sectors ensures that we can continue to help build sustainable economic growth for Scotland which will strengthen our economy and create jobs." |
Mr Swinney added that it was "only with the full powers of independence that we can build a wealthier, fairer and economically sustainable Scotland ensuring that everyone benefits from our natural wealth and talent". | Mr Swinney added that it was "only with the full powers of independence that we can build a wealthier, fairer and economically sustainable Scotland ensuring that everyone benefits from our natural wealth and talent". |
Scottish Secretary Alistair Carmichael also welcomed the latest figures, saying they showed Scotland was "firmly on the road to recovery as part of the UK". | Scottish Secretary Alistair Carmichael also welcomed the latest figures, saying they showed Scotland was "firmly on the road to recovery as part of the UK". |
He added: "Despite uncertain global conditions it is welcome news to see that Scotland's economy has continued to grow into the second half of 2013. | He added: "Despite uncertain global conditions it is welcome news to see that Scotland's economy has continued to grow into the second half of 2013. |
"This government's long-term economic plan is working and Scotland's economy is successful and stronger as part of the UK with its security, scale and influence. | "This government's long-term economic plan is working and Scotland's economy is successful and stronger as part of the UK with its security, scale and influence. |
"The UK government continues to work hard to create a stable platform for sustained growth in our economy benefiting businesses and individuals across Scotland." | "The UK government continues to work hard to create a stable platform for sustained growth in our economy benefiting businesses and individuals across Scotland." |
The Scottish Chambers of Commerce described the latest statistics as "excellent". | |
Chief executive Liz Cameron added: "The good news is that growth is widely based across a large number of sectors, although much of the growth remains rooted in increasing levels of consumer demand. | |
"As we enter 2014, we are looking for increased evidence of rising investment to provide a solid basis for continued growth." |
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