The ONS has published updated, indicative, estimates for how much the economy shrank in 2020, when COVID-19 first hit. These numbers look a little different to our earlier takes on this challenging period. Craig McLaren explains what’s changed and why.
Read more on Updating our estimates of the pandemic’s effects on the UK’s economy – the new ONS estimates explained
Today the ONS has published new GDP figures including numerous improvements to our data sources and methods. Craig McLaren talks about the years of work that have led to this point and how these are the best set of GDP figures yet produced.
Read more on Moving up a gear – how new methods and sources have transformed GDP
Over several years the ONS has been transforming the way we produce GDP and wider national accounts figures, introducing better data sources, systems and methods to produce significantly improved estimates of how money flows around the economy. Here Craig McLaren explains why new figures that will be used from the Autumn look a little different to previous estimates.
Read more on In the balance – How we are improving our estimates of GDP
