Main GDP Findings for 2008 Quarter 4

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GDP rose by 0.5 per cent annually and fell by 1.7 per cent in the fourth quarter of 2008 (seasonally adjusted).
In the year to end-December 2008, the Scottish service sector grew by 1.0 per cent, the production sector fell by 0.5 per cent and the construction sector fell by 1.7 per cent.
In the fourth quarter of 2008, the service sector fell by 0.8 per cent, the production sector declined by 4.7 per cent and the construction sector fell by 4.7 per cent.

The UK figures show that GDP rose by 0.7 per cent in the year to end-December 2008 and fell 1.6 per cent in the fourth quarter of 2008.
Over the year, the UK experienced 1.5 per cent growth in services, a 2.7 per cent fall in production and the construction sector grew by 0.3 per cent.
In the fourth quarter of 2008, the UK service sector fell by 0.8 per cent, the production sector declined by 4.5 per cent and the construction sector declined by 4.9 per cent.

In the fourth quarter of 2008, the service sector in Scotland fell by 0.8 per cent.
Within services, real estate & business services (-1.9%), other services (-3.3%), retail & wholesale (-2.1%) and transport, storage & communication (-2.0%) all declined over the quarter.
The financial services sector grew by 2.2 per cent along with modest growth in public administration, education & health (+0.5%).
Output in the production sector fell by 4.7 per cent in the latest quarter.
Within production, manufacturing (-4.6%), electricity, gas & water supply (-6.0%) and mining and quarrying (-2.3%) experienced falls in the latest quarter.
Within manufacturing, chemicals & man-made fibres (-12.3%), total other manufacturing (-5.9%), engineering & allied industries (-2.1%), food, drink & tobacco (-3.4%), electrical & instrument engineering (-2.9%), metals & metal products (-3.7%), textiles, footwear, leather & clothing (-8.6%) and transport equipment (-2.8%) fell over the latest quarter.
Mechanical engineering showed modest growth of 0.1 per cent.