Construction output in Great Britain | 您所在的位置:网站首页 › Construction output for second quarter of 2021 › Construction output in Great Britain |
7. Measuring the data
Quality and methodology More quality and methodology information (QMI) is available in: our Construction output QMI our Construction output price indices (OPIs) QMI our New orders in construction QMI Reasons for revisions to construction output in this releaseThis release contains revisions to construction output estimates from January 2024 onwards, and is consistent with the National Accounts Revisions Policy. Revisions in this release are a result of: revisions in the nominal data; this includes revisions to the survey data revisions to seasonal adjustment factors, which are re-estimated every month and reviewed annually revisions to the input series for the Construction Output Price Indices (OPIs) For further information on the revisions profile, see our Output in the construction industry revisions triangle (one-month growth) dataset and our Output in the construction industry revisions triangle (three-month growth) dataset. Sub-national and sub-sector construction outputData on new orders supplied by Barbour ABI are used to model the breakdown of the overall output figures for Great Britain into the lower level and regional data. This is shown in Tables 1 and 2 of our Output in the construction Industry: sub-national and sub-sector dataset. More detail is available in our Quality assurance of administrative data used in construction statistics methodology. Bias adjustmentTypically, since the move to monthly gross domestic product (GDP) estimates, an adjustment to address any bias in survey responses for construction output is applied to the early construction output monthly estimates. We show this in our Improvements to construction statistics: Addressing the bias in early estimates of construction output, June 2018 article. The survey turnover response rate for March 2024 was 69.6%. This follows a response rate of 76.2% in February and 75.0% in January. As this is an improvement since the levels seen during the coronavirus (COVID-19) pandemic, we have therefore continued not to apply a bias adjustment while we review this approach in the future. More information on our response rates is available in our Output in the construction industry dataset. Differences with monthly GDP construction estimatesIn Blue Book 2021, we introduced a new framework to improve how we produce volume estimates of GDP for balanced years as part of the supply use process. This was explained in our Producing an alternative approach to GDP using experimental double deflation estimates article. This framework included the implementation of double-deflated industry-level gross value added (GVA) for the first time. This improvement was reflected in the GDP quarterly national accounts, UK: April to June 2021 bulletin and dataset and GDP monthly estimate, UK: August 2021 bulletin for the first time. As a result, volume estimates in the monthly GDP and construction outputs releases will differ for the period 1997 to 2020. This is because the construction publication measures the volume of construction work (output), while the GDP series measures GVA (that is, output minus intermediate consumption). Construction estimates will align, but on a growth basis from January 2021 onwards. Information and indicative effects of this change to industry-level GVA volume can be found in our Impact of double deflation on industry chain volume measure annual estimates article and our Impact of Blue Book 2021 changes on quarterly volume estimates of gross domestic product by industry article. Publishing content reviewThis release is a full bulletin, following a number of previous headline-only releases. We are currently reviewing the content we publish and are trialling a system of a full bulletin release on quarter months, with headline-only releases on the other two months of each quarter. There will be no change to the accompanying data and we will continue to publish all our usual datasets every month. We will announce a decision in a future release and welcome any feedback at [email protected]. Back to table of contents |
CopyRight 2018-2019 实验室设备网 版权所有 |