SCC Comment on Scotland’s GDP for Q1 2018
Commenting on the recently released GDP figures for Scotland, Liz Cameron OBE, Director & Chief Executive of Scottish Chambers of Commerce said:
“It is positive to see that Scotland’s GDP edged above the UK as a whole in the first quarter of 2018, leading to the fifth consecutive quarter of growth for the Scottish economy. However, these statistics continue to highlight key issues in Scotland’s economy, particularly in the construction sector which has now contracted for nine successive quarters. The fall in Q1 was particularly pronounced for the sector, with the ‘Beast from the East’ impacting activity.
“Despite this fall in construction output, there was positivity in key sectors such as Manufacturing and Business Service and Finance, which respectively provided the highest contributions to growth.
“We expect the recently refreshed Scottish Cabinet and Ministerial team to bring a renewed vigour to Scotland’s approach to the economic challenges that we face. Combined portfolios linking Transport, Infrastructure and Connectivity should, in theory, provide a more holistic economic approach. A key priority should be the accelerated regeneration and renewal of Scotland’s infrastructure, which should act to bolster our domestic construction sector.”