Friday, April 13, 2018

National Survey for Wales and National Accounts changes

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13 April 2018

National Survey for Wales

Help Wales make the best decisions – National Survey to interview 12,000 people

The biggest annual survey of people in Wales is getting underway to help inform important decisions on local services and government priorities. The survey questions cover a range of important issues including education, health and social care, council services and leisure activities.

The results will be used by the Welsh Government to understand more about the everyday lives and views of people across Wales. 

Getting people to take part in official surveys has been a challenge worldwide. The National Survey managers believe that people in Wales can help break that trend, as the survey offers the public a unique opportunity to influence decisions that affect them.

Martina Helme, the National Survey for Wales manager for ONS stresses the importance of this survey:

National Survey Wales


Survey participants are selected randomly to form a representative sample of the population. Interviews are conducted in people's homes by experienced interviewers in either English or Welsh and take around 45 minutes to complete.

Find out more about the National Survey for Wales


Economy

National Accounts changes: impact on current price GDP 1997-2016 

ONS has today published an article setting out the impact on current price, or nominal, GDP of improvements to the National Accounts that will be introduced when revised figures, consistent with the 2018 Blue Book, are published on 29 June 2018.

The total net impact of the improvements announced today increase the level of current price GDP in 2016 by approximately £6.2 billion or 0.3%. Average annual growth in current price GDP between 1997 and 2016 remains unrevised at 3.9% per year.

The main improvements announced today are:

Improved estimates from the Bank of England on the measurement of 'net spread earnings' (NSE). NSEs are the implicit charges that financial institutions make when financial assets are exchanged, such as when foreign exchange companies buy and sell currency. This improvement adds £5.6bn to current price GDP in 2016 but has no impact on current price GDP growth, on average, between 1997 and 2016.

A correction to the estimate of the investment in computer software. The removal of an element of double-counting in this type of investment last year had the effect of overly reducing our estimates of gross fixed capital formation (investment). This previously announced correction adds £4.3 billion to current price GDP in 2016 but has no impact on average annual growth between 1997 and 2016.

 Improved data and methods for estimating the funds held by funded public sector pension schemes. This decreases current price GDP by £1.2 billion in 2016 but has no impact on annual growth between 1997 and 2016.

In addition to impacting on the level of nominal GDP, some of these improvements, particularly the new estimates for NSEs, also affect our estimates of the UK's trade balance. On average these improvements decrease the UK's total trade deficit by 0.2% of GDP between 1997 and 2016, with the biggest impact coming in 2016 when the trade deficit decreased by £9.8 billion or 0.5% of GDP.  

ONS Director of National Accounts Transformation Darren Morgan said: 

"Improved estimates are allowing us to shine new light on the financial sector, helping us to paint a better picture of UK financial exports. 

"By utilising new data sources and introducing improved methods we are ensuring ONS is measuring our changing, digital economy in the best way possible."

Visit the National Statistical blog to see the many ways ONS is working to give the UK better statistics for better decisions.

Visit National Statistical

Our digital team regularly write about our approach and progress to the website and social media.

Visit our Digital Blog

Find out how our Data Science Campus is exploring how sources such as administrative data & social data, and techniques such as machine learning and natural language processing, can improve our understanding of the UK's economy, communities & people.

Visit the Data Science Campus Blog

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