Grangemouth closure drags Scotland’s GDP lower – Daily Business
By: | Published: 2025-07-31 22:02:00 | Source: dailybusinessgroup.co.uk
The closure of Grangemouth oil refinery was a big factor in Scotland’s economy shrinking, according to new data.
Figures published by the Scottish Government show a 0.4% decline in GDP growth over the three months leading to May – effectively wiping out the 0.4% rise recorded in the opening quarter.
During May, GDP shrank by 0.2%, following a modest 0.1% uptick the previous month.
Deputy First Minister Kate Forbes admitted that the latest monthly figure “demonstrates the cessation of oil refining at Grangemouth has contributed to a reduced output in the manufacturing sector”.
Kevin Brown, savings specialist at Scottish Friendly, said: “There is clear…
