At component level, the biggest impact is on the UK tourist and foreign tourist expenditure HHFCE categories. Household final consumption expenditure (HHFCE) for the UK, as a measure of economic growth.
Source: Office for National Statistics – Consumer trendsIn common with all components of UK gross domestic product (GDP), household final consumption expenditure (HHFCE) estimates are subject to the In Quarter 2 (Apr to June) 2019, the revisions to total household final consumption expenditure have been made in line with the revisions policy for Blue Book 2019.
The equivalent 2018 Q1 impact on GDP is +0.03pp.Within Quarterly Sector Accounts, RHDI would see revisions range from -0.1pp in five of the affected quarters to +0.2pp in 2018Q3 and 2019Q2.In the Quarter 2 2020 publications, the revisions to total HHFCE, GDP and RHDI will be made in line with the revisions policy for Blue Book 2020. Within that category, the growth was driven by mains gas and liquefied petroleum gas, which grew by 16.9%, contributing 0.17% to total domestic expenditure growth. Consumer spending was up 1.5% year-on-year in October, narrowly falling behind the current inflation rate, as consumers spent carefully Key insights: • Consumer spending grew just 1.5% in October, down from 1.6% in September and below It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Figures will be corrected when the relevant periods are next open for revision. Quarterly revisions then only affect top level HHFCE at +0.15pp in 2018Q1. In the UK, the estimates of the three approaches are balanced to produce the best estimate of GDP.
Explanations for these exceptions and the related concepts are available in Household expenditure is used in the national accounts to measure the contribution of households to economic growth and accounts for about 60% of the expenditure measure of current prices – also known as nominal, cash or value series are expressed in terms of the prices of the time period being estimatedchained volume measure – this measure removes the effects of inflationThe estimate of HHFCE where net tourism expenditure is included is called the UK national estimate. Includes all spending on goods and services by members of UK … Constant Prices 2016, SA
All estimates, by definition, are subject to statistical “error” but in this context the word refers to the uncertainty inherent in any process or calculation that uses sampling, estimation or modelling.
The largest negative contribution was restaurants and hotels, which contributed negative 0.07% to overall growth.The positive 0.25% contribution from housing was caused by its positive 0.9% quarter-on-quarter growth.
Over this period, consumer spending in the UK … Consumer Spending in the United Kingdom averaged 178745.42 GBP Million from 1955 until 2020, reaching an all time high of 341096 GBP Million in the third quarter of 2019 and a record low of 67920 GBP Million in the first quarter of 1955. Lower-level analyses in this bulletin are based on the domestic concept. Estimates in this Consumer trends bulletin are now based on 2016 price structures; that is, the chained volume measure estimate in 2016 equals the current price value of expenditure in 2016. This statistic shows total domestic consumption expenditure in the United Kingdom (UK) from 2005 to 2019.