Kate Forbes

Output remains above the pre-pandemic level of February 2020, by 1.3%.

Output in the services sector, which accounts for around three-quarters of the economy, grew by 0.7% in February. At the broad level, output in consumer facing services grew by 2.1%, while health, education and public services output fell by 1.2%, and output in all other services increased by 1.3%.

Output in the production sector grew by 0.3% in February, while construction sector output fell by 0.1%.

In the three months to February, GDP is estimated to have grown by 1.1% compared to the previous three month period. This indicates a slight slowdown in growth in Quarter 1 so far, after an increase of 1.3% in 2021 Quarter 4 (October to December).

Economy secretary Kate Forbes, said: “As we continue to recover from the impacts of the pandemic, growth of 0.4% in February shows the strength and resilience of Scotland’s businesses and our wider economy, driven by increasing output in professional, scientific and technical services, as well as in accommodation and food services. It is encouraging to see monthly GDP is now 1.3% above the pre-pandemic level of February 2020.

“While our recovery remains fragile and we continue to face challenges from EU exit, the rising cost of living and the impacts of Russia’s illegal invasion of Ukraine, the Scottish Government is firmly focused on supporting our economy to recover. Since the start of the pandemic, businesses have benefited from more than £4.5 billion of support, including around £1.6bn in rates relief.

“The National Strategy for Economic Transformation is fundamental to building on our progress, growing our economy and supporting our transition to a greener, fairer and more prosperous Scotland.”