Scotland's economy grows slightly to avoid recession

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Scotland's economy grows slightly to avoid recession
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Output increased by just 0.1% in the final quarter of 2022, official statics have revealed.

The country's chief statistician has revealed output grew by 0.1% in real terms between October and December.

Scotland was at risk of recession - defined as two consecutive quarters of falling output - after the economyActing finance secretary John Swinney said the figures show the "resilience" of the country's economy. Although gross domestic product grew by 0.1% in the past quarter, it remains 0.3% below pre-pandemic levels.Mr Swinney, who also serves as deputy first minister, said: "These figures demonstrate the resilience of the Scottish economy against the extremely challenging circumstances faced by countries around the world."

"Despite recession being avoided last year, enormous pressures remain across both the private and public sectors."Scottish businesses also continue to suffer due to the effect Brexit has had on supply chains, trade and the free movement of people, which had a significant impact on businesses in terms of staffing."

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