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Release: Annual Business Survey, 2010 Revised Results

Released: 14 June 2012

Contact

Pete Pring

Annual Business Survey

pete.pring@ons.gsi.gov.uk

Telephone: +44 (0)1633 456338

Categories: Business and Energy, Production Industries, Primary Production, Manufacturing, Water and Sewage, Building and Construction, Services, Business Services, Retail and Distribution, Retail Trade, Wholesale Trade

Frequency of release: Annually

Language: English

Geographical coverage: UK

Geographical breakdown: UK

Survey name(s): Annual Business Survey (ABS), Business Register and Employment Survey (BRES)

  • The UK economy, as measured by the Annual Business Survey (ABS), recorded a rise in approximate Gross Value Added at basic prices (aGVA) of 4 per cent (£34 billion) between 2009 and 2010, recovering more than half of the 6 per cent (£59 billion) fall seen between 2008 and 2009

  • The Service sector led this recovery with aGVA rising to 1 per cent (£7 billion) above the level seen in 2008. Production and Distribution also recovered, although not yet to the 2008 levels

  • The largest contribution to the whole economy comes from the Distribution sector. In 2010, Distribution contributed 39 per cent of UK turnover, 49 per cent of purchases and 16 per cent of aGVA

  • Within the Distribution industries Retail trade, except of motor vehicles and motorcycles (Division 47) shows year on year growth from 2008 to 2010 helped by the increase in commodity prices

  • The ABS 2010 Revised results when compared to the Provisional results published on 17 November 2011 show minimal revision for the Whole economy. There were upward revisions of 0.3 per cent (£8 billion) in turnover, 0.04 per cent (£839 million) in purchases and 0.1 per cent (£1 billion) in aGVA

The Annual Business Survey (ABS) collects financial information for about two-thirds of the UK economy, covering agriculture (part), forestry and fishing; production; construction; motor trades; wholesale; retail; catering and accommodation; property; service trades. The financial variables covered include turnover, purchases, employment costs, capital expenditure and stocks. Approximate Gross Value Added (aGVA) is calculated as an input into the measurement of Gross Domestic Product (GDP).

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These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.

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