Following publication by the Office for National Statistics (ONS) of indicative impacts from the annual update of its estimates of UK Gross Domestic Product (GDP), the ONS has asked the Office for Statistics Regulation (OSR) to undertake a review.
Today, we are announcing this review. It will consider the three key areas of: quality assurance; improvements through enhanced access to wider data; and communication of uncertainty and revisions in line with the Code of Practice for Statistics.
Ed Humpherson, DG Regulation said:
“Revisions are an inevitable part of producing timely and accurate estimates of GDP. The COVID pandemic and the recovery that followed, brought a period of significant change to key economic data, so today, following ONS’s request, we have announced a review to consider what lessons can be learnt for future economic measurement.”