Matt Steel (@MattSteel_ONS) header
Matt Steel (@MattSteel_ONS) profile picture

Matt Steel

@MattSteel_ONS

Statistician @ONS tweeting about business investment and capital. BIG fan of @Only1Argyle, pasties and being outdoors. Views my own. RT ≠ endorsement.

 Cardiff/Plymouth
ons.gov.uk/
Joined August 2015
  • Tweets1.5K
  • Following528
  • Followers775
129Media
Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)Photo by Matt Steel (@MattSteel_ONS)
GDP fell 1.6% in Quarter 1 (Jan to Mar) 2021, revised down slightly from a 1.5% fall in the previous estimate ow.ly/XhKA50Flvlu
Bar chart showing the move to remote learning for the majority of pupils was the largest contributor to the 2.1% fall in services output in Quarter 1 2021.

ALT Bar chart showing the move to remote learning for the majority of pupils was the largest contributor to the 2.1% fall in services output in Quarter 1 2021.

1
19
2
15
GDP grew 2.1% in March but remains 5.9% below its pre-pandemic peak. Services grew 1.9% (7.2% below), manufacturing grew 2.1% (2.2% below) and construction grew 5.8% (2.4% above) ow.ly/upCv50EKzqn
GDP growth March monthly compared with February 2020 March 2021 GDP: up 2.1% Services: up 1.9% Manufacturing: up 2.1% Construction: up 5.8% Change since February 2021 GDP: down 5.9% Services: down 7.2% Manufacturing: down 2.2% Construction: up 2.4%

ALT GDP growth March monthly compared with February 2020 March 2021 GDP: up 2.1% Services: up 1.9% Manufacturing: up 2.1% Construction: up 5.8% Change since February 2021 GDP: down 5.9% Services: down 7.2% Manufacturing: down 2.2% Construction: up 2.4%

3
49
10
66
Matt Steel retweeted
ONS Focus (@ONSfocus) profile picture
ONS Focus@ONSfocus29 Apr 2021
Today we’ve published our estimate for the total net worth of the whole of the UK in 2020. This was worked out much quicker than ever before. Marianthi Dunn explains about how this was possible in our blog. blog.ons.gov.uk/2021/04/29/p…
Putting a value on the UK – faster than ever before

Putting a value on the UK – faster than ever before

Today we have published 2020 estimates for the total value of the United Kingdom – the ‘National Balance Sheet’ – and for its capital stocks, just four months after year-end, much, much faster

blog.ons.gov.uk
1
12
13
The UK’s net worth was £10.5 trillion in 2020 (an average of £158,000 per person). This was up £0.4 trillion or 4.4% on 2019, the strongest annual growth since 2016 ow.ly/bqsz50EAvPo
UK’s net worth increases to £10.5 trillion in 2020 UK total net worth, current prices, 1995 to 2020

ALT UK’s net worth increases to £10.5 trillion in 2020 UK total net worth, current prices, 1995 to 2020

3
13
5
19
New estimates of intangible investment in the UK market sector published today! They are annual and run from 1992 to 2018, in current prices and (for the first time from @ONS) constant prices (that is, controlling for price changes). A short thread 1/4 ons.gov.uk/economy/economico…
1
5
1
7
Business investment increased by 1.3% in Quarter 4 2020 and is now 10.3% below where it was at the end of 2019 ons.gov.uk/economy/grossdome…
Image from Matt Steel (@MattSteel_ONS)
1
1
Over the year as a whole, business investment fell by 10.7% in 2020. This compares with a fall of 15.3% in 2009.
We have published GDP, an estimate of total output in the UK economy, for December 2020. This also means we have the overall position for Q4 and 2020 as a whole. A thread. 👇
2
26
5
43
GDP grew 1.2% in December but remains 6.3% below its pre-crisis peak. ▪️ Services grew 1.7% (6.9% below peak) ▪️ Manufacturing grew 0.3% (3.4% below peak) ▪️ Construction fell 2.9% (3.4% below peak) ow.ly/ZTmY50Dyskn
GDP growth, December monthly and change since February 2020

ALT GDP growth, December monthly and change since February 2020

2
43
10
31
GDP grew by a revised 16.0% in the third quarter (July to Sept 2020), but remains 8.6% below its pre-pandemic peak ow.ly/zMZ350CRNph
Table showing GDP growth Quarter 3 (July to Sept) 2020 compared with Quarter 2 (Apr to June) 2020 and the last pre-pandemic quarter (Oct to Dec 2019) GDP Q3 2020 up 16.0% Q4 2019 down 8.6% Services Q3 2020 up 14.7% Q4 2019 down 8.9% Manufacturing Q3 2020 up 19.5% Q4 2019 down 7.1% Construction Q3 2020 up 41.2% Q4 2019 down 7.0%

ALT Table showing GDP growth Quarter 3 (July to Sept) 2020 compared with Quarter 2 (Apr to June) 2020 and the last pre-pandemic quarter (Oct to Dec 2019) GDP Q3 2020 up 16.0% Q4 2019 down 8.6% Services Q3 2020 up 14.7% Q4 2019 down 8.9% Manufacturing Q3 2020 up 19.5% Q4 2019 down 7.1% Construction Q3 2020 up 41.2% Q4 2019 down 7.0%

1
30
2
37
Matt Steel retweeted
ONS Focus (@ONSfocus) profile picture
ONS Focus@ONSfocus21 Dec 2020
Measuring the work of public services has probably never been as challenging with the unprecedented response to #COVID19. Read @jathers_ONS blog about how we adjusted our estimates and are expanding our statistics to include new types of services. blog.ons.gov.uk/2020/12/17/t…
The virus, the vaccine and GDP: Measuring healthcare through the pandemic

The virus, the vaccine and GDP: Measuring healthcare through the pandemic

Measuring the work of public services has probably never been as challenging as in recent months, with many services being reduced due to the pandemic while new services, such as track a

blog.ons.gov.uk
5
1
6
(1/4) As part of today’s business investment release we’ve once again analysed the comments left by businesses responding to the Quarterly Acquisitions and Disposals of Capital Assets Survey. This helps us build a picture of the story behind the numbers
Office for National Statistics (ONS) (@ONS) profile pictureOffice for National Statistics (ONS)
@ONS22 Dec 2020
Replying to @ONS
Business investment grew 9.4% in Quarter 3 (July to Sept) 2020 but remains 19.0% below its pre-pandemic peak ow.ly/axe750CRRPm
Chart title: Business investment: comparing the severity of the coronavirus pandemic with the 2008 to 2009 economic downturn

ALT Chart title: Business investment: comparing the severity of the coronavirus pandemic with the 2008 to 2009 economic downturn

1
5
10
more replies
(3/4) The percentage of business comments containing words associated with uncertainty grew sharply as the pandemic took hold peaking at 59% in Q2 2020. This fell to 46% of comments in Q3 2020
Image from Matt Steel (@MattSteel_ONS)
1
1
2
(4/4) Was investment being paused or stopped for good? Predominantly where investment was stopped, businesses told us that those investment decisions were being delayed rather than cancelled altogether
Image from Matt Steel (@MattSteel_ONS)
1
3
A (sort of) economic statistics advent calendar. Some key @ONS releases between now and Christmas:
3
9
2
15
Thread! We’ve published some experimental textual analysis based on the comments provided by businesses responding to the Quarterly Acquisitions and Disposals of Capital Assets Survey (QCAS). (1/4)
1
1
more replies
A higher percentage of business responses referred to investment decisions as paused (26%) rather than cancelled altogether (2%) in Q3 2020. (3/4)
Image from Matt Steel (@MattSteel_ONS)
1
You can find all our textual analysis in the accompanying tables here ow.ly/jP0u30rjI5g (4/4)
Load more