Data
The datasheets and weekly data updates in this section provide teams with a selection of the statistics that are regularly used by the Monetary Policy Committee.
The datasheets are organised under five headings:
- Money and financial markets
- Demand and output
- The labour market
- Costs and prices
- The international economy
Each of the datasheets contains tables of recent data so that
teams can monitor the recent economic picture. In addition,
long-runs of data are available for a selected number of key
statistics. These will enable teams to compare recent changes
in data with previous experience.
The tables are in Microsoft Excel format. Teams will be able to download and use the data if they wish. You should not feel that you have to use all the data. Some of the data are more important than others. Teams will have to decide which data are important for their assessment of economic conditions and interest rate decision.
The different types of economic information and some of their main features are explained in the Using Statistics section. The datasheets should be used in conjunction with the relevant parts of The Economy section, where some of the important data are described and discussed in more detail. Short notes also accompany each of the tables provided in the datasheets. Teams should make sure that they understand what the data are before they start drawing conclusions from them.
Teams will need to follow new data and revisions to existing data as they become available. The tables will be updated monthly after the MPC meeting. The dates on the data sheets will be changed as the tables are updated. You should check to make sure you are using the latest data.
Each week the main data released during the previous week will
be summarised in the Target Two Point Zero Weekly Data Update.
This can be accessed using the left hand navigation or the Latest
Data button on the Home page. The weekly updates will also be
sent to participating teams.
Latest Weekly Data Update
When you make your interest rate decision, data for the most recent quarter or month will not necessarily have been published for every data series. That is one of the realities of the setting interest rates. You have to make the best of what are available. And, the datasheets do not contain all the information relevant to the economy and monetary policy. Teams are welcome and encouraged to use whatever other data and information they think will be useful and relevant to their presentation and interest rate decision. Pick up The Times and other publications to get some pointers about the current situation. There are plenty of people offering opinions on the economy and interest rates. Visit the webites of the organisations that publish statistics. The latest Office for National Statistics data releases and briefings can be found at:
www.statistics.gov.uk
You may also want to look at some of the other data and charts included in the minutes of the MPC meetings and the Bank of England's Inflation Report. But do not become overloaded with information. You will need to be selective. The sections on The Economic Jigsaw and Your Presentation offer some guidance on deciding how much data to use and preparing your presentation.
©2000-2008 Bank of England.
