Measuring the full economic impact of Covid-19 is a key challenge for the ONS. Some have questioned why the decline we’ve identified in UK GDP is greater than that being reported by other G7economies. Rob Kent-Smith explains the differing trends and measurement practices that have led to this apparent gap.Read more on Minding the Gap: Why has UK GDP fallen so sharply in the pandemic?
The ONS has been developing a new, improved method for producing GDP over the last few years. Today the first experimental estimates are being published fully using this new system, which include the much vaunted ‘double deflation’ adjustments to the figures. Here, Rob Kent Smith talks about the new figures and why they are important.Read more on Making it count: How we are introducing ‘double deflation’ into UK GDP
The coronavirus (COVID-19) pandemic has clearly hit the economy of all countries very hard, with big falls in GDP across the world. The UK has seen the output of its public services, such as health and education, hit harder than many other countries. Here Rob Kent Smith explains how we measure the contribution of these important services and why we’ve seen such big declines.Read more on Public services: measuring the part they play in the economy through the pandemic
The ONS has unveiled its latest set of plans to further develop and transform the national accounts, including GDP. Rob Kent-Smith writes about the challenges of delivering our transformative agenda.Read more on Next steps along the journey: how ONS is continuing to transform GDP
The ONS has announced further plans to improve and transform the production of GDP and the wider National Accounts over the next few years. The changes will offer a clearer and more detailed picture of an increasingly digital UK economy than has been possible until now.Read more on Transforming GDP: next steps on the journey