Economics Demystified: South West Regional Accounts

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Allison McCaig delivers a presentation on the South West Regional Accounts, provided by the RDA.

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Economics Demystified: South West Regional Accounts

  1. 1. The Regional Accounts Economics Training – 26th October 2010
  2. 2. What are the SW Regional Accounts? 1. Detailed Structural Map of the Economy (2007) – the linkages between SW industries – how SW industries link into external markets such as UK regional and international export markets – the connections between the SW industries, the labour market, and SW household expenditure – An economic impact tool (input-output model)
  3. 3. What are the SW Regional Accounts? 2. A Time Series of Key Economic Variables – GVA, FTE workers, no. of businesses, exports – 111 industries defined by SIC (+29 region only) – SWRDA Priority Sectors – 15 UA/County sub-regions of the SW (not for exports) – Spanning 1998-2008 – More detailed by industry than ONS RAs – Importantly, provides comparable estimates of related variables e.g. FTE, not just GVA on its own.
  4. 4. Statistics you can derive from the RAs • Industrial structure • Measures of productivity • Capital expenditure • Orientation & Nature of Sales & Purchases – International exports as per FTE – Purchases of goods & services from the SW as a % of total purchases by industry • Input structure of an industry e.g. expenditure on R&D
  5. 5. Data Sources • Principal source for industry financial data is the ABI/2 • ONS Regional Accounts GVA • ONS household accounts • ABI/1 labour market & industry data from NOMIS • Variables derived from Labour Force Survey • Family Expenditure Survey • HMRC data on international exports by region • REWARD project data for emissions and waste • plus lots more……..(see help files)
  6. 6. What are the Benefits of the RAs? • Disparate data within meaningful economic framework • Provides consistency + greater ‘interactivity’ between data • Structure facilitates analysis e.g. impact model • Greater use & scope to existing data, expanding the evidence-base • Accessible to a wider audience (technical/cost issues) • At a lower cost (data, no duplication, economies of scale)
  7. 7. Availability of the Regional Accounts • Full accounts = stand-alone software called ECON|i • ‘Slimmed down’ accounts = online • FREE of charge to anybody (at the moment…) • Users include – RDA staff – Local Authorities – Consultants (both in the SW and elsewhere in GB) – Private companies working on in-house research – Academics & students
  8. 8. Show me…..
  9. 9. Training • Website resources • Training courses
  10. 10. • EconomyModule@southwestrda.org.uk • Escr@economicsystems.co.uk Contact us

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