This month our nowcasting model has produced the following estimates of economic growth in Scotland in Q1 and Q2 2019:
- GDP growth in 2019 Q1 is estimated to be 0.29% which, at an annual rate, is 1.18%
- GDP growth in 2019 Q2 is estimated to be 0.31% which, at an annual rate, is 1.26%
Later this month (27th June) we will receive official estimates of economic growth for Q1 2019 from the Scottish Government, and we will be able to compare these to our own estimates.
Our latest nowcast suggests that this number will come in around 0.3%, but having dipped very slightly in the latest estimate, perhaps it could surprise on the downside!