Recently I’ve been finding it pretty hard to cut through the gumpf in the press about Brexit. I read one headline telling me everything is great, employment is up, that the referendum has had no impact on retail sales. Then I’ll switch on the radio and hear that the cost of consumer goods is increasing and business investment is down.
I want to cut through the nonsense and spin. So I’ve created a Brexit Dashboard, or more alliteratively, The Brexit Briefing. The aim: just present the stats. What they are, whether they’re up or down, and look at how that compares to early June 2016, prior to the referendum.
I’ll be aiming to create this monthly, and it is very much a work in progress, so if you have any feedback, do send it in to firstname.lastname@example.org
Date range: The date range used for the highs and lows is 1st January 2008 to the current day.
I’ve also included a glossary below, just in case the writing is that bit too small.
Glossary of terms
Sterling value: Based on the Bank of England Exchange Rate Indices, comparing Sterling against a weighted average of a basket of currencies
GDP: Gross Domestic Product is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period
CPI: The consumer price index measures changes in the price level of market basket of consumer goods and services purchased by households
Index of production: Measures the volume of production for the manufacturing, mining and quarrying, energy supply, and water and waste management industries
Index of services: Monthly movements in gross value added for the services industries, which overall account for around 79% of UK gross domestic product
Construction output: Monthly output at current price and chained volume measures seasonally adjusted by public and private sector
Retail Sales Index: Measuring retail sales in by volume and value using a rolling three month percentage change
Business Investment: Investment trends for businesses in the UK, including spending on transport equipment, machinery, buildings and intangible assets
Cumulative Government Borrowing: The amount of borrowing in thousands by the Government for the year to date (latest available figures)
Employment rate: The proportion of people aged from 16 to 64 who are in work
Unemployment rate: The level and rate of UK unemployment using a definition of unemployment specified by the International Labour Organisation
Average Weekly Earnings: The median weekly earnings growth rate
House Prices Index: Monthly house price inflation, calculated using data from Land Registry
PPI Output: The prices of goods sold by UK manufacturers
PPI Input: The prices of goods bought by UK manufacturers including the prices of materials and fuels purchased
Trade in goods and services: This is the Balance of Payments or the difference in total value between payments into and out of a country
Overseas investment into the UK: Based on ONS Foreign Direct Investment – Liabilities. Influenced by depreciation in currency and confidence in economic growth
UK investment overseas: Based on ONS Foreign Direct Investment – Assets. Influenced by depreciation in currency and confidence in economic growth