Information from the Inter-departmental business register (IDBR) on workplace employment allows us to apportion the VAT turnover for each business based on their employment share within a region. The main components of the service industries are: wholesale and retail; hotels and restaurants; transport, storage and communication; business services and finance; and government and other services.The main data for these estimates is turnover data from approximately 1.9 million VAT returns. Global growth is forecast at 3.2 percent in 2019, picking up to 3.5 percent in 2020 (0.1 percentage point lower than in the April WEO projections for both years). We use this information to make the website work as well as possible and improve our services. NI Composite Economic Index Release - published 16 July 2020 The NICEI is an experimental quarterly measure of the performance of the NI economy based on available official statistics. The timespan of the update is the first quarter of 2015 through the fourth quarter of 2019 for estimates of real GDP and its major components, and the first quarter of 1999 through the fourth quarter of 2019 for estimates of income and saving.
First estimate of GDP: 2019 Q4 Headline results Scotland’s Gross Domestic Product (GDP) grew by 0.2% in real terms during the fourth quarter of 2019, following growth of 0.3% in the third quarter of 2019. More information on the 2020 Annual Update is included in the May Survey of Current Business The GDP value of the United States represents 17.65 percent of the world economy. The Other volume measure data are used where appropriate, or where VAT data has insufficient coverage.

GDP releases so far this year, together with generally softening inflation, point to weaker-than-anticipated global activity. The "second" estimate for the fourth quarter, based on more complete data, will be released on February 27, 2020.The increase in real GDP in 2019 reflected positive contributions from PCE, nonresidential fixed investment, federal government spending, state and local government spending, and private inventory investment that were partly offset by negative contributions from residential fixed investment.
It includes output in the manufacturing (the largest component of production), mining and quarrying, energy supply, and water supply and waste management industries.Services are activities that people, or businesses provide for a consumer or other businesses. The estimates released today also reflect the results of the Annual Update of the National Income and Product Accounts (NIPAs). It estimates the size of and growth in the economy.Production is the process of combining various materials or other inputs in order to generate a product for consumption. In the third quarter, real GDP increased 2.1 percent.

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