英国高频宏观经济统计百年：数据盘点

A Century of High Frequency UK Macroeconomic Statistics:A Data InventoryNational Institute of Economic and Social ResearchOccasional Paper LXIV.© National Institute of Economic and Social Research, 2025National Institute of Economic and Social Research2 Dean Trench StLondon SW1P 3HET: +44 (0)20 7222 7665E:enquiries@niesr.ac.ukW: niesr.ac.ukRegistered charity no. 306083ISBN: 978-1-916258-46-4 iiiTHE NATIONAL INSTITUTE OFECONOMIC AND SOCIAL RESEARCHOccasional PaperLXIVA Century of High Frequency UKMacroeconomic Statistics:A Data InventoryJagjit S. Chadha,1Ana Rincon-Aznar,2Sylaja Srinivasan3and Ryland ThomasJune 2025Any views expressed in this publication are solely those of the author(s) andso cannot be taken to represent those of the Bank of England or any of itscommittees, or to state Bank of England policy. They also cannot be takento represent those of the Economic Statistics Centre of Excellence (ESCoE),its partner institutions or the Office for National Statistics (ONS).1University of Cambridge, ESCoE, Centre for Macroeconomics (CfM)3Bank of England and ESCoE 32ESCoE ivINTERIM DIRECTORPROFESSOR STEPHEN MILLARD2 Dean Trench Street, Smith SquareLondon, SW1P 3HETheNational Institute of Economic and Social Research is anindependent research institute, founded in 1938. The vision of ourfounders was to carry out research to improve understanding ofthe economic and social forces that affect people’s lives, and theways in which policy can bring about change. And this remainscentral to NIESR’s ethos. We continue to apply our expertise inboth quantitative and qualitative methods and our understandingof economic and social issues to current debates and to influencepolicy. The Institute is independent of all party political interests. vContents5. Output and Demand Indictors7. Conclusions and Next StepsAppendix A1: A summary of Standard IndustrialAppendix A2: A Summary of Changes to HistoricalList of Occasional Papers Foreword11. Introduction32. UK National Accounts113. Prices374. Labour Market43516. Financial Statistics5775Classification Changes87Monetary Aggregates101105 1Foreword“The government are very keen on amassing statistics. They collectthem, add them, raise them to the nth power, take the cube root andprepare wonderful diagrams. But you must never forget that everyone of these figures comes in the first instance from the chowky dar [avillage watchman in India], who just puts down what he damn pleases."Lord Stamp was the first chair of the National Institute of Economicand Social Research (NIESR) from 1938 until his death in 1941 andthe good sense of his warning echoes with anyone working withdata today. Economists have a deep interest in the evolution ofsociety, its material progress and how it responds to shocks anddevelops institutions and policies to manage change. Longer runsof data allow us to examine episodes in clear context, for examplethe Return to Gold in 1925, the management of public debt afterthe World Wars, the evolution of labour share, the rise and dangersof inflation and the vicissitudes of labour productivity. But careis needed as there are both subtle and major shifts in economicstructure and behaviour that means we may not always beenI was delighted to work with Ana Rincon-Aznar, Sylaja Srinivasanand Ryland Thomas on this project which allowed us to collect andcomment on the inventory of the available macroeconomic statisticsin the UK for the last hundred years or so. The work was largelyundertaken before the pandemic and was originally released in theEconomic Statistics Centre of Excellence (ESCoE) Technical Reportseries.1The project made heavy use of the NIESR archive andlibrary and so the NIESR occasional paper series seemed appositeas its final resting place. It also benefited from the generosity andhelp of a large number of academic colleagues and officials at theBank of England and Office for National Statistics (ONS). It is asmuch their work as our own. The focus is on documenting thehigher frequency (daily, monthly and quarterly) macroeconomic1A Century of High Frequency UK Macroeconomic Statistics: A Data Inventory(ESCoE TR-03) available at https://www.escoe.ac.uk/publications/a-century-of-high-frequency-uk-macroeconomic-statistics-a-data-inventory/ Stamp’s Lawcomparing like for like. 2data that are available after World War One, rather than longer runannual time series which has been the focus of other collections.It discusses some of the challenges that need to be overcome inorder to create a continuous historical dataset over this period.The inventory follows the structure of the Economic Trends AnnualSupplement (ETAS) that was produced for many years by the ONS.A dataset to go alongside the paper – “A century of economictrends” –was made available in the Historical Data UK repositorydeveloped by ESCoE, which also provides a digital archive of manyof the original publications from which the data was sourced.The dataset covers statistics on National Accounts, prices