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Release: Annual Business Survey, 2010 Provisional Results

Released: 17 November 2011
  • The whole economy, as measured by the ABS, showed a 5% (£53 billion) decrease in approximate Gross Value Added at basic prices (GVA) from 2008 to 2009, followed by a 3% (£26 billion) increase from 2009 to 2010.

  • The 'provisional' 2010 turnover figures show an increase in 2010 back towards 2008 levels, as demonstrated in the Production industries (led by Manufacturing) and the Distribution industries. The greatest recovery is shown by the Service industries which returned to slightly higher levels than 2008.

  • The largest contributions to the whole economy recovery are from Distribution (with a 4%, £6 billion increase in GVA), Services (with a 3%, £14 billion increase in GVA) and Production (with a 4%, £8 billion increase in GVA).

  • Within the Distribution industries 'Retail trade, except of motor vehicles and motorcycles' shows year on year growth from 2008 to 2010 helped by the increase in commodity prices.

The Annual Business Survey (ABS) collects financial information for about two thirds of the UK economy, covering agriculture (part), hunting, forestry and fishing; production; construction; motor trades; wholesale; retail; catering and allied trades; property; service trades. The financial variables covered include turnover, purchases, employment costs, capital expenditure and stocks. Approximate Gross Value Added (GVA) is calculated as an input into the measurement of Gross Domestic product (GDP). Employment information is covered by the Business Register Employment Survey (BRES). These web pages are mainly devoted to the financial information but include some employment data.

Content from the Office for National Statistics.
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