The Gross Domestic Product (GDP) for Scotland for the 4th Quarter of 2007 - a quarterly publication which measures growth, in real terms - has shown an annual rise of 2.2% and an increase of 0.9% in the fourth quarter of 2007 (seasonally adjusted).
In 2007 as a whole, the Scottish service sector grew by 3.4%, the production sector fell by 1.0% and the construction sector fell by 1.7%.
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In the final quarter of 2007, the service sector grew by 1.3%, the production sector declined by 0.2% and the construction sector fell by 1.0%.
Cabinet Secretary for Finance and Sustainable Growth John Swinney said: "The Scottish economy grew at a faster rate than the UK in the last quarter of 2007, a welcome and positive piece of news in the current climate. The financial services sector was buoyed by the highest ever quarterly growth in banking.
"But overall growth over the year lags behind the UK growth rate, highlighting the important focus of the Scottish Government on increasing sustainable economic growth.
"Scotland is not isolated from global conditions. Looking ahead, we know the labour market in Scotland remains resilient and performs better than the UK, with a lower unemployment and higher employment rate. Business survey evidence suggests GDP growth may slow in the first quarter of 2008."
(GK/JM)
