Categories: Economy, Prices, Output and Productivity, Productivity Measures, Volume of Capital Services
Frequency of release: Annually
Geographical coverage: UK
Geographical breakdown: UK and GB
Survey name(s): Quarterly Survey of Capital Expenditure
Volume index of capital services (VICS) is a measure of capital input to economic production which takes account of the quality and use of the capital stock across time and different types of assets. VICS weights together the growth of the net stock of assets using a user cost of capital, rather than prices as does the National Accounts. The results can then be used in multi-factor productivity analysis.