The Office for National Statistics (ONS) and other government bodies are utilising a range of experimental, real-time indicators to provide an up-to-the-minute understanding of economic activity and social change across the UK. These novel data sources, which include rapid response surveys and innovative methodologies, aim to offer a more immediate picture than traditional statistical releases.
Key economic barometers being tracked include weekly shipping visits to and from selected UK ports, sourced from exactEarth, offering a prompt indication of international trade flows. Alongside this, the estimated quantity of automotive fuel demand per average transaction is being monitored weekly, a joint effort by the ONS and the Department for Energy Security and Net Zero, giving insight into road travel and consumer spending on transport.
Energy costs are also under close scrutiny, with daily data available on the System Price of electricity in Great Britain, provided by Elexon, and the System Average Price (SAP) of gas traded on the On-the-Day Commodity Market, from National Gas Transmission. These figures, along with their rolling seven-day averages, provide a dynamic view of wholesale energy markets, which ultimately influence household and business utility bills.
Beyond broad economic indicators, the data delves into specific sectors and social trends. The number of new vehicles registered in the UK and the volume of vehicles produced are tracked monthly by the Society of Motor Manufacturers and Traders (SMMT). Furthermore, the Insolvency Service provides weekly data on advanced notifications of potential redundancies, detailing the number of HR1 forms submitted and the employers proposing job cuts, offering an early signal of labour market shifts.
Other indicators include daily UK flight numbers from EUROCONTROL, encompassing flights to, from, and within the country, reflecting travel patterns. The Ministry of Housing, Communities and Local Government supplies weekly figures on Energy Performance Building Certificates (EPCs) for new and existing domestic properties in England and Wales, shedding light on property market activity and energy efficiency improvements. Consumer spending habits are also being analysed through Revolut debit card transaction data, while BT Active Intelligence provides weekly and monthly retail footfall figures, broken down by location and region, to gauge high street health.