Tuesday, 29 March 2011

UK Sectoral Financial Balances - Q4 2010

The Q4 figures are out and below are the updated sectoral balance graphs. It turns out that the Bank of England is included in 'Private Financial Institutions' for some reason and there doesn't appear to be a simple way of breaking the BoE out of the figures. If anybody has any suggestions on how to do that, I'd be glad to here them. Without that the private sector reserve position is hidden from view.

The estimates have been updated for all of 2010 now, with the Q4 figures preliminary. There appears to be very little change from Q3 to Q4 - except for a 2.25% move to non-financial corporations from private financial institutions. We shall see whether that is a 'statistical artefact' or something substantive as the revisions roll in.

Source: Office of National Statistics, tables RPZD, RPYN, RQAW, RPZT, RQCH, DJDS (Seasonally adjusted Net Lending/Borrowing per sector plus residual error) and YBHA (Gross domestic product at market prices, seasonally adjusted)