GDP

Solid foundations: how ONS has transformed its construction statistics

Covering a multitude of widely diverse businesses from multinationals to one-person bands engaged in activities from domestic plumbing to building skyscrapers, the construction sector is notoriously difficult to measure. Yet it accounts for approximately six per cent of the UK’s GDP and is a heavily scrutinised part of the economy. Delivering better construction statistics has been a recent priority for ONS. Here Ceri Lewis explains what’s been achieved so far.       

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Getting the balance right – how ONS creates a single estimate of GDP

After 70 years of production Gross Domestic Product (GDP) remains the single most closely watched economic indicator. The success  of government economic policy is judged against it and it’s the yardstick for the scale of public spending and debt.  As Rob Kent-Smith explains, calculating GDP requires the informed balancing of sometimes contradictory data sources.     

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GDP: a worthwhile, but incomplete, measure

Recently GDP has come under some close scrutiny for failing to capture unpaid work and the impact of economic growth on the environment. Jonathan Athow looks at GDP’s strengths as well as some other measures and statistics that can be used to understand wider measures of well-being.

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