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| Scotland's economy expands by 0.9% | Scotland's economy expands by 0.9% |
| (35 minutes later) | |
| Scotland's economy grew by 0.9% during the second quarter of 2014, according to new statistics. | Scotland's economy grew by 0.9% during the second quarter of 2014, according to new statistics. |
| On an annual basis, GDP (Gross Domestic Product) grew by 2.6% compared with the same period last year. | On an annual basis, GDP (Gross Domestic Product) grew by 2.6% compared with the same period last year. |
| The services sector, which accounts for nearly three-quarters of the economy, grew by 0.9% in the latest period. | The services sector, which accounts for nearly three-quarters of the economy, grew by 0.9% in the latest period. |
| Figures released by Scottish government statisticians also showed that the production sector expanded by 0.3%, while construction output grew by 3.6%. | Figures released by Scottish government statisticians also showed that the production sector expanded by 0.3%, while construction output grew by 3.6%. |
| The Scottish Chambers of Commerce (SCC) welcomed the new data. | |
| 'Healthier balance' | |
| SCC chief executive Liz Cameron said: "Scotland's economy has now grown for eight consecutive quarters and our growth rates in 2014 so far have been equal to or higher than those of the UK as a whole. | |
| "We are also beginning to see evidence, confirmed by the International Monetary Fund last week, that our economy is achieving a healthier balance between growth led by consumer demand and growth led by business investment. | |
| "Expectations are that the rate of growth we have experienced in the first six months of the year may not quite be replicated in the second half of the year, but nonetheless this latest rise in GDP is an extremely positive sign that the Scottish economy has the potential to sustain growth over the medium term." | |
| Earlier this week, a report by Bank of Scotland suggested private sector economic growth slowed in Scotland in September. | Earlier this week, a report by Bank of Scotland suggested private sector economic growth slowed in Scotland in September. |
| The Bank's PMI survey said output growth eased from the "robust" pace seen in August to its slowest rate for the past 18 months. | The Bank's PMI survey said output growth eased from the "robust" pace seen in August to its slowest rate for the past 18 months. |
| But it added that job creation was "steady" and employment increased. | But it added that job creation was "steady" and employment increased. |