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Video summary: 14 ways ONS statistics help you understand the economy

Released: 27 June 2014

The Office for National Statistics can help you to keep track of money moving around the UK economy.

Your money goes to five places:

The Government
Households
The Financial Sector
Businesses
And the Rest of the World

It then just flows around in a circle…

You get paid wages
You pay your taxes
You import products
Your business receives investment
You make some savings
You get your benefits
You buy goods from overseas
And so on and so on….

This is called the circular flow of income.

And there are 14 ways that ONS can help you to understand it:

  1. Balance of Payments which are statistics which show international monetary transactions

  2. UK Trade Statistics which shows the interaction of business and households with the rest of the world.

  3. Business Investment statistics which shows spending on business assets

  4. The Producers Price Index which shows the prices that producers face and charge

  5. Output of the Construction Industry which measures just that

  6. Index of Production Statistics which show how much is produced in the production industry

  7. Index of Services which show how much is made in the service industry

  8. Financial Sector statistics which shows acquisitions, assets and liabilities of the UK Financial corporations

  9. Public Sector Finances which shows how much money the Government is spending and receiving

  10. Retail Sales Index which shows what households are buying from shops

  11. Labour Market Statistics which covers unemployment and employment figures

  12. Consumer Prices Index measures the inflation of consumer prices

  13. House Prices Index which shows the changes in house prices

And    14. GDP which encompasses nearly all these statistics and more, measuring the total out put, expenditure and income in the UK.

14 sets of statistical reports that can help you.

For more information please visit www.ons.gov.uk

The 14 releases mentioned in the video:

  1. Balance of Payments

  2. UK Trade

  3. Business Investment

  4. Producer Price Index

  5. Output of the Construction industry

  6. Index of Production

  7. Index of Services

  8. Financial Sector Accounts part of the UK Economic Accounts

  9. Public Sector Finances

  10. Retail Sales

  11. Labour Market Statistics

  12. Consumer Price Index

  13. House Price Index

  14. GDP
    Preliminary estimate
    2nd estimate
    Quarterly National Accounts

An interactive version of this video which has the latest figures can be found at “How ONS statistics explain the economy

The 14 releases mentioned in the video:

  1. Balance of Payments

  2. UK Trade

  3. Business Investment

  4. Producer Price Index

  5. Output of the Construction industry

  6. Index of Production

  7. Index of Services

  8. Financial Sector Accounts part of the UK Economic Accounts

  9. Public Sector Finances

  10. Retail Sales

  11. Labour Market Statistics

  12. Consumer Price Index

  13. House Price Index

  14. Gross Domestic Product
    Preliminary estimate
    2nd estimate
    Quarterly National Accounts

Source: Office for National Statistics

Background notes

  1. 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

    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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