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Scotland's economy grows by 0.3% Scotland's economy grows by 0.3%
(about 7 hours later)
Scotland's economy grew by 0.3% in the last quarter - half that of the UK as a whole, according to official figures.Scotland's economy grew by 0.3% in the last quarter - half that of the UK as a whole, according to official figures.
The GDP figures for July to September are the first time this year that Scottish economic growth has slipped behind the rest of the UK.The GDP figures for July to September are the first time this year that Scottish economic growth has slipped behind the rest of the UK.
It means Scotland and the UK has a whole have both recorded total growth of 1.5% over the past year. It means Scotland and the UK as a whole have both recorded total growth of 1.5% over the past year.
Scotland's economy grew by 0.4% in the first quarter of 2018, and by 0.5% in the second quarter.Scotland's economy grew by 0.4% in the first quarter of 2018, and by 0.5% in the second quarter.
The figures for the UK as a whole in these two quarters were 0.2% and 0.4% respectively.The figures for the UK as a whole in these two quarters were 0.2% and 0.4% respectively.
In the latest quarter, output in Scotland's services sector grew by 0.3% and in the construction sector by 2.7%, but the production sector contracted by 0.7%.In the latest quarter, output in Scotland's services sector grew by 0.3% and in the construction sector by 2.7%, but the production sector contracted by 0.7%.
Scotland's finance secretary, Derek Mackay, welcomed the fact the country's economy had grown for the fifth consecutive quarter.Scotland's finance secretary, Derek Mackay, welcomed the fact the country's economy had grown for the fifth consecutive quarter.
But he again said the "key risk" to Scotland's economy over the next year continues to be the "uncertainty associated with Brexit, and in particular the risk of a 'no-deal' Brexit, which is impacting on business confidence and investment."But he again said the "key risk" to Scotland's economy over the next year continues to be the "uncertainty associated with Brexit, and in particular the risk of a 'no-deal' Brexit, which is impacting on business confidence and investment."
The UK government's Scottish secretary, David Mundell, said he concerned that Scotland is now "lagging behind the rest of the UK".The UK government's Scottish secretary, David Mundell, said he concerned that Scotland is now "lagging behind the rest of the UK".
He urged the Scottish government to use the "vast powers at its disposal to close this growth gap", and said the prime minister's proposed Brexit deal would "protect jobs and prosperity".He urged the Scottish government to use the "vast powers at its disposal to close this growth gap", and said the prime minister's proposed Brexit deal would "protect jobs and prosperity".