Dataset(s): UK Economic Accounts

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. 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.