Thursday, April 5, 2018

Economic well-being: October to December 2017

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5 April 2018

Economic well-being: October to December 2017

ONS has today released new figures on economic well-being for Q4 2017. Rather than focusing on traditional measures, such as GDP, these indicators aim to provide a more rounded and comprehensive basis for assessing changes in material well-being. 

GDP per head grew 0.8% in Q4 compared with the same quarter a year ago, while real household disposable income (RHDI) per head increased 1.0% over the same period.

Net national disposable income (NNDI) per head – which takes account of the depreciation of assets and the UK's foreign income balance – increased by 2.1% between Q4 2016 and Q4 2017, mainly due to a £4.8bn increase in the balance of income received from the UK's foreign direct investment.

In 2014-2016, the net household property wealth of people aged 60 to 62 was 17 times the net household property wealth of those aged 30 to 32 years. However, in the period 2006-2008 this difference was only six times.

For the first time in over two years, consumers reported a worsening of their perception of their own financial situation for three consecutive quarters.

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