Dataset:UK Economic Accounts time series

Corrections

22 October 2018

The UK Economic Accounts release for Quarter 2 (Apr-Jun) 2018 contained pensions estimates that were affected by a misallocation of certain data from the private sector to the public sector in 2017 (and, very slightly, in Quarter 1 (Jan-Mar) 2018). This was due to an operational issue that has now been resolved. The series directly impacted were ‘Other social insurance benefits’ for households and financial corporations, with the largest impact of £800m in Quarter 3 (Jul-Sep) 2017, or approximately 2-4% of the actual size of the series directly affected. There are small indirect impacts on households’ disposable income, households’ pension entitlements and the alternative measure of the savings ratio, but no impacts on the overall households’ savings ratio or households’ net borrowing. The estimates will be corrected in the next publication of UK Economic Accounts on 21 December 2018. We apologise for any inconvenience caused.

22 October 2018

ONS identified a processing error that caused Households Individual consumption expenditure (ABJQ) to be incorrect in the quarterly, current price, seasonally adjusted data for 1985 Q1 to 1986 Q4 published in tables 1.1.2, 6.2.6 and 6.2.12. This also affected Household Final Consumption Expenditure per head (CRXO) in table 1.1.5. The update has resulted in a small error to households’ gross saving of -0.01% which will be corrected in Blue Book 2019.

A related issue was identified in table 6.2.12 for Household final consumption expenditure by purpose and goods and services for 1985 Q1 to 1996 Q4. The affected series were all current price, seasonally adjusted, quarterly data.

We have corrected these errors. The affected growth rates have also been corrected.

You can see all previous versions of this data on the previous versions page. We apologise for any inconvenience.

28 September 2018

ONS identified that a publication error caused the total change in inventories series (ABMQ) for 1997 and 1997 Q1 to appear incorrectly in tables 1.1.2 and 1.1.9 within the United Kingdom Economic Accounts (UKEA) published 29 June 2018. The series Other Industries (DLWV), which appears within table 1.1.9 only, was likewise affected for the same periods. Both of these series have now been updated from their previous incorrect value of -£1,800 million to £0 million for Quarter 1 (Jan to Mar) 1997. ABMQ has been corrected to £3,069 million for 1997 from the previously incorrect £1,269 million and DLWV has been corrected to £1,072 million from the previously incorrect £728 million.

Additionally, the following Gross Fixed Capital Formation series showed incorrect values within table 1.1.8 within the UKEA published 29 June 2018, for the years 1987 to 1996 only:

DLWJ – Transport Equipment
DLWM – ICT equipment and other machinery and equipment
EQDN – General Government
EQDT – Intellectual property products
L62K – Private Sector – Dwellings
L62L – Private Sector – Costs of transfer of ownership of non-produced assets
L62M – Public Corporations – Dwellings
L62N – Public Corporations – Costs of transfer of ownership of non-produced assets

These series have now been updated with growth for these series unchanged from that previously reported on 29 June 2018 for the years affected.

These issues only impact the values in tables 1.1.2, 1.1.8 and 1.1.9 and do not impact any aggregations dependant, including GDP.

ONS apologises for any inconvenience this may have caused. For any further information please contact GCF@ons.gov.uk.

25 July 2018

A minor error has been identified in Switzerland service exports. The error fed through to the below series and affects 2017 (quarters and annual) and Quarter 1 (Jan to Mar) 2018. The error was due to a processing issue and does not affect any other outputs within the release. All affected series have now been corrected.

D38G in table B6B, Switzerland services exports, seasonally adjusted
D38F in table B6B, Switzerland goods and services exports, seasonally adjusted
D3N5 in table B6B, Switzerland total credits, seasonally adjusted
D39A in table B6B_3, Switzerland services balances, seasonally adjusted
D399 in table B6B_3, Switzerland goods and services balances, seasonally adjusted
D3N7 in table B6B_3, Switzerland current account balances, seasonally adjusted
FYVU in table B6C, Switzerland services exports, not seasonally adjusted
LGIL in table B6C, Switzerland goods and services exports, not seasonally adjusted
LEOY in table B6C, Switzerland total credits, not seasonally adjusted
GGRO in table B6C_3, Switzerland services balances, not seasonally adjusted
LGMV in table B6C_3, Switzerland goods and services balances, not seasonally adjusted
LEPA in table B6C_3, Switzerland current account balances, not seasonally adjusted

5 July 2018

We identified that the index values and growth rates for the Business Services and Finance sector within the United Kingdom Economic Accounts publication were incorrect. These have now been amended.

The error did not impact any top-level data, so there is no impact on either GDP or Index of Services.

ONS apologises for any inconvenience this may have caused.

Notices

5 July 2018

We have now completed the quality assurance of historic data for selected time series, see list below. These data have now been published within the United Kingdom Economic Accounts dataset for the time periods as indicated.