Economy

Direct Debits data reveal fresh economic insights

Image of graphs and money, indicating financial markets

For the first time the ONS has published new data on UK Direct Debits. This new, fast and anonymised data source provides insight on consumer payments to most of the UK’s largest companies. Dragos Cozma describes how the ONS has developed this new data source with our partners at Vocalink and Pay.UK and what it tells us about the UK economy.  

Read more on Direct Debits data reveal fresh economic insights

Keeping it consistent – how we quality adjust CPI

Innovation Picture

Our consumer inflation statistics are closely watched, not only because they tell us how price rises are affecting people, but also because they are a crucial piece of information, used by the Bank of England when setting Interest rates. Chris Jenkins talks about the complex adjustments we make to ensure the index shows only real, underlying changes in prices.  

Read more on Keeping it consistent – how we quality adjust CPI

Down your way: working towards more localised data on public sector spending

Since we introduced the country and regional public sector finances data in 2017, further opportunities have emerged to use alternative data sources to make these statistics more timely. Moreover, data sources and production techniques can help increase the granularity of geographical breakdowns. In this post we look at some improvements we’re working on.

Read more on Down your way: working towards more localised data on public sector spending

Inclusive Income: How the ONS is moving beyond GDP

Image shows a traffic jam, it is evening so there are brake lights and the speed signs are illuminated on the overhead bridge

As well as producing high-quality economic analysis and statistics, the ONS has been working on radical plans to go ‘beyond GDP’. This work includes new and innovative metrics reflecting the impact of economic change on people and the environment. Richard Heys introduces the new measure of ‘Inclusive Growth’, and explains what it says about how our lives and environment are changing.

Read more on Inclusive Income: How the ONS is moving beyond GDP

Local Data for Local People: How new data sources are helping to calibrate communities

In this episode of Statistically Speaking we shine the spotlight on local data and look at how good statistics for small areas make for better targeted policy interventions, and more effective use of valuable public resources. 

Read more on Local Data for Local People: How new data sources are helping to calibrate communities