";s:4:"text";s:3099:" Overall, services output fell by a cumulative 21.3% in the first six months of this year. The data cover 34 OECD countries, and totals are provided for the following groups: OECD, OECD-Europe, the European Union, the euro area and the Major seven (G7). You can change your cookie settings at any time. The smallest decline seen over the latest quarter was in Japan, where a 7.9% fall in gross domestic product (GDP) was reported following a 0.6% fall in Quarter 1 (Jan to Mar) 2020. The QSA and the associated statistical compendium UK Economic Accounts presents the net lending or borrowing of an institutional sector from both their financial and non-financial accounts as well as a number of important economic indicators, including the household sector’s saving ratio. Financial corporations also increased their rest of the world share assets by £123.9 billion more than in the previous quarter, reversing the large reduction they saw in Quarter 1. Given the difference in timings of the imposition of lockdown measures between countries, it is useful to consider the cumulative fall in GDP in the first half of this year. The quarterly fall in Quarter 2 2020 reflects declines in the vast majority of industries, most notably accommodation and food services, wholesale and retail trade and repair of motor vehicles, human health and social work activities, and administrative and support service activities (Figure 4).
Final consumption expenditure of households, SNA93, 6. The different data content and quality of the three approaches – the output approach, the expenditure approach and the income approach – dictates the approach taken in balancing quarterly data. General government increased their financial account net borrowing to £128.8 billion in the latest quarter as it financed its response to the coronavirus pandemic and fall in tax revenue. Travel restrictions that have been implemented on a global scale have also significantly reduced the flow of tourists to and from the UK, which have been particularly marked on the UK imports of those services. Government expenditure by function (COFOG), 2019 archive, 12. This includes focusing resources on main respondents and industries, methodology reviews including but not limited to seasonal adjustment, forecast and imputation, and the use of additional sources of data (in quality assurance). Click here to Login | Contact us | User Guide | English | Français. More quality and methodology information on strengths, limitations, appropriate uses, and how the data were created is available in the Gross domestic product (GDP) QMI.