Outlook and appraisal [March 2004]

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Ashcroft, Brian (2004) Outlook and appraisal [March 2004]. Quarterly Economic Commentary, 29 (1). pp. 3-7. ISSN 0306-7866

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Abstract

Scottish GDP continued to rise in the third quarter of last year but by less than the UK. However, over the year to the third quarter Scottish GDP grew by 2.1%, faster than the outturn of 1.6% in the UK. Estimates of recent Scottish growth have been revised upwards following the introduction of a new data series, which adopts the chain-linking methodology. This approach allows industry shares (weights) in total Scottish value added to vary annually, allowing more accurate estimates of Scottish GDP growth.

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