Fiona Hyslop, economy secretary

Change in gross domestic product (GDP) is the main indicator of economic growth. Over the year, compared to the fourth quarter of 2018, the economy has grown by 0.7%. In 2019 the economy has grown by 0.8% compared to 2018.

During the fourth quarter output in the construction sector grew by 0.7%, output in production contracted by 1.2%, and output in the services sector grew by 0.5%.

The second estimate of GDP for the fourth quarter of 2019 will be available in Quarterly National Accounts Scotland, published on 29 April 2020. The first estimate of GDP for the first quarter of 2020 will be published on 17 June 2020.

Fiona Hyslop, economy secretary, said: “The growth in the economy in 2019, although modest, is welcome. However, we are living in unprecedented times and I am acutely aware that COVID-19 is already having challenging implications for businesses the length and breadth of the country.

“That is why we have moved quickly to provide a £320 million package of support for the business community. I would also strongly encourage businesses to contact the COVID-19 helpline - 0300 303 0660 – that answers questions relating to the economic impact of the virus.

“Businesses receiving support are being encouraged to operate with fair work principles including supporting staff to self-isolate when they need to and if they have caring responsibilities.

“I have already met with business organisations and the STUC. A number of the issues that are to be addressed can be supported by the Scottish Government, but having spoken to Alok Sharma the UK Secretary of State for Business, Energy and Industrial Strategy, it needs to be understood that this will require a coordinated global and UK–wide level response to deal with the economic impact this will have.”