Economy
Economic statistics are central to monitoring, understanding and managing the economy, at both national and regional levels. The Economy theme covers statistics which measure different aspects of, and provide insight into, the UK economy and the economies of Devolved Administrations and UK regions.
Access to statistics that are accurate, reliable, relevant and timely is vital for policy makers. And such statistics are equally important for effective decision making in the private sector. Moreover, economic statistics provide a yardstick for assessing economic performance and are thus central to the ability of Parliaments, the media and the public at large to hold policy makers to account.
It is also crucial that information is available below the level of the aggregate economy. For instance, effective regional policies require information about economic activity at the level of the corresponding regional units.
In 2016, Sir Charles Bean in his independent review report into UK economic statistics said that the current economic statistics were showing their age having been designed over fifty years ago when the economy was dominated by goods not services. He called for greater scrutiny following his finding that many economic statistics are deficient.
Fulfilling the Bean review expectations, during 2019 among other work, we commenced a review of HMRC statistical quality management, published a review of the public value of devolved public finance statistics and assessed DCMS sector economic estimates and designated the statistics with the National Statistics designation.
Contact: Iain Russell
Correspondence
Review of HMRC statistical quality management
5 November 2019
Ed Humpherson, Office for Statistics Regulation to Sean Whellams, HM Revenue and Customs
Further steps to bolster the value of public finance statistics for the UK’s countries and regions
18 October 2019
Ed Humpherson, Office for Statistics Regulation to Siobhan Carey, Northern Ireland Statistics and Research Agency
Further steps to bolster the value of public finance statistics for the UK’s countries and regions
30 September 2019
Ed Humpherson, Office for Statistics Regulation to Tom Orford, HM Treasury
Further steps to bolster the value of public finance statistics for the UK’s countries and regions
30 September 2019
Ed Humpherson, Office for Statistics Regulation to Roger Halliday, Scottish Government
Further steps to bolster the value of public finance statistics for the UK’s countries and regions
30 September 2019
Ed Humpherson, Office for Statistics Regulation to Glyn Jones, Welsh Government
Publications
The Public Value of Devolved Public Finance Statistics
24 May 2019
Published in: Systemic/Monitoring Reviews
Statistics on Government Spending: Country and Regional Analysis
24 May 2019
Published in: Assessment Report
DCMS Sectors Economic Estimates
6 December 2018
Published in: Assessment Report
Systemic Review Outline: National Accounts Classification processes, decisions and communications
20 July 2018
Published in: Systemic Review Outline, Systemic/Monitoring Reviews
Improving Statistics on City Regions – our evaluation of the impacts
10 July 2018
Published in: Systemic/Monitoring Reviews
News & Events
The Office for Statistics Regulation (OSR) takes further steps to bolster the value of public finance statistics for the UK’s countries and regions
30 September 2019
UK Statistics Authority Statement on the future of the RPI
4 September 2019
Chair of UK Statistics Authority expresses concern about “widespread use” of Retail Prices Index (RPI)
8 March 2018
UK Statistics Authority statement on the use of official statistics on contributions to the European Union
27 May 2016
Review of economic statistics
11 March 2016
Assessment: Statistics on Consumer Price Inflation including Owner Occupiers’ Housing Costs
3 March 2016
Progress Report on Income and Earnings Statistics
12 January 2016
Coherence and Accessibility of Official Income and Earnings Statistics
2 July 2015
Retail Prices Index
13 March 2013