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Summary: Business Investment, Q1 2013 results

Released: 27 June 2013 Download PDF

Correction

Errors have been found in the sector breakdowns of Gross Fixed Capital Formation (GFCF), published on 27 June 2013.  These have now been corrected.  This correction has no impact on the estimates of total GFCF and therefore no impact on Gross Domestic Product.

The following series have been corrected in the Business Investment Q1 2013 Results – By Sector and Asset:

NPEM, KG75, KG6V, NPEK, NPEN, KG7S, KG7P, KG7M, NPEL, DFDK, KH87, KH83, GGAE, DFDV, KH9K, KH9A, DFEG, L5ZQ, L64M, L64L, L62T, L62K, L656, L655, L636, L5YQ, L64G, L64F, L62R, L62M, L64V, L64U, L634, KH7R, KH7P, RPZG, DLXP, KG79, KG6Z, TLPK, EQDT, KH9S, KH9I, EQDO, DLXJ, EQBX, EQBV, DEEP, DLWZ, DLWJ, EQBW, DEEQ, DLXI and DLWM

These errors also affect GFCF sector breakdowns published in the Quarterly National Accounts (in Table F and K2; and quarterly net lending by sector in Table I will also be affected.)  In addition, the errors impact on Table A8 of the United Kingdom Economic Accounts.  Due to the integrated nature of the accounts, quarterly seasonally adjusted data for sector breakdowns of gross fixed capital formation (P.51), total gross capital formation (P.5) and subsequent aggregate series are also affected in the following United Kingdom Economic Accounts tables: A19, A22, A22C, A26, A31, A36, A41, X2 and X7.

These publications will be corrected when next published – 26 September 2013.

ONS apologises for any inconvenience this may cause. For further information please contact gcf@ons.gsi.gov.uk

Quarterly gross fixed capital formation chained volume measures

Reference year 2010=100, seasonally adjusted
Source: Quarterly Survey of Capital Expenditure - Office for National Statistics

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This release adopts significant improvements to the estimation of gross fixed capital formation, leading to larger than usual revisions.

Gross fixed capital formation increased by 0.2% between Q4 2012 and Q1 2013.

Business investment decreased by 1.2% between Q4 2012 and Q1 2013.

Quarterly business investment chained volume measures

Business investment Q1 2013 results
Source: Quarterly Survey of Capital Expenditure - Office for National Statistics

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Source: Office for National Statistics

Background notes

  1. Growth refers to a comparison between the latest quarter and the previous quarter. Sometimes this is referred to as quarterly growth.
  2. Figures discussed are seasonally adjusted chained volume measures.
  3. Details of the policy governing the release of new data are available by visiting www.statisticsauthority.gov.uk/assessment/code-of-practice/index.html or from the Media Relations Office email: media.relations@ons.gsi.gov.uk

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