Scotland is today officially in recession, after the country’s economic output fell for two successive quarters.
The official figures, released just hours before Alistair Darling unveils this year’s crucial Budget, show Scotland’s gross domestic product fell by 1.7 per cent in the final quarter of 2008. This follows a 0.8 per cent drop in the previous quarter.
The figures reveal that Scotland’s economy fared slightly worse that the UK as a whole in the final quarter of last year.
The UK’s GDP fell 1.6 per cent during 2008’s final quarter.
However the figures came as no surprise, after the UK figures confirmed the nation was in recession back in January.
Scotland’s figures are published three months after the UK’s.
The data also shows construction industry activity fell by 4.7 per cent in the country during the final quarter.
This compares to a 4.9 per cent drop off for the UK as a whole.