U.K. Moves to ‘Theme Days’ in Revamp of Economic Data Scheduleby
New release format to take effect in January, ONS says
Statistics office seeks more coherent picture of U.K. economy
Britain’s statistics agency is planning to revamp the way it publishes its monthly schedule of economic data.
Starting in January, related figures will be published on the same day in an effort to present “a more coherent and consistent picture of U.K. economic activity,” the Office for National Statistics announced on Thursday. It means data will be released on just seven days of the month, slightly fewer than at present.
Under the new “theme days” format, indicators will be grouped under the categories of productivity, short-term output indicators, inflation, the labor market, public finances, retail sales and the national accounts together with balance of payments.
The biggest impact will be on the monthly Index of Services, which will be published in the first or second week, about a fortnight earlier than at present. Construction output, trade and industrial production will be released at the same time as services, with construction being brought forward by as much as a week. There will be little impact on the timing of other releases.