Kevin Brown, savings specialist at Scottish Friendly, has commented on this morning's Scottish GDP data

“While the Scottish economy grew in February, the sharp slowdown in momentum just before conflict escalated in the Middle East is far from ideal and will raise concerns among policymakers.

“The data shows that the construction and production sectors were both struggling before the conflict kicked off at the end of February. And it is these two parts of the economy most vulnerable to a prolonged global shock. These sectors are more reliant on raw materials and energy, meaning any sustained rise in oil and input costs will hit hard, squeezing margins and slowing activity further.

“While there is a ceasefire in place at present, it seems fragile. The concern is that there is disruption again in the Strait of Hormuz. This would have a negative knock-on effect on key Scottish exports such as whisky and salmon, which rely on stable global shipping routes.

“In the short-term, the fate of the Scottish economy – and indeed the global economy – depends on what happens next in the Middle East. Anything other than a quick resolution will be damaging for growth.

“In this environment, households should focus on things they can control. That means shopping around for the best energy deals, savings accounts and mortgages rate to make sure their finances are as resilient as possible to withstand a prolonged shock to the global economy.”