The Office for National Statistics (ONS) has decided to suspend the Volume Index of Capital Services (experimental) - Estimates to 2010 release, due for publication on 26 April 2012.
Issue date: 04 April 2012
ONS calculates estimates of capital services, based on information about investment flows (gross fixed capital formation (GFCF)) and a Perpetual Inventory Model (PIM), comparable to that used in the annual capital stock publication. This in turn is weighted using user costs of capital to calculate capital services. This is in line with international best practice.
It has not been possible to produce capital services estimates at the level of detail previously published, and consistent with the 2011 Blue Book, owing to problems with industry and asset patterns of GFCF and historical data.
The Capital Stocks and Capital Consumption publication, which was due to be released on 5 March 2012, has been withdrawn.
Work will continue to produce estimates of acceptable quality.
As the Volume Index of Capital Services is an input for the ONS publication of Multi-factor productivity (MFP) work will continue to attempt to produce estimates at a more aggregated level in order to make this possible.
In the meantime, the latest edition of MFP - Estimates to 2010, due for publication on 26 April 2012 is also suspended.
ONS apologises for any inconvenience.