Sunday, 3 April 2016

UK Sectoral Balances - Q4 2015

Q4 2015 sectoral balances are now out. Sorry it's taken a while to get these published. The ONS has completely trashed their website and disabled all the access URLs for data. No doubt the team there are patting themselves on the back and virtue signalling like mad with their multi-lingual front-end with loads of accessibility features. But until I can type in a simple


then they haven't got the mashability right. Why, oh why are unique reference ids hidden in a hierarchy, eg.


Hierarchical classification is in the eye of the beholder. Use tags instead.

On the plus side when I finally did get the data, it has been extended back to 1987 once more and therefore I've extended the graphs accordingly.

The present government is well on their way to achieving their aim of restarting the financial crisis. The government deficit is dropping as households borrow more and the percentage of GDP spent on housing continues to rise. (Currently at 5.13%). When it gets above 6% for any length of time it usually ends in a private debt crisis as people over extend.

The five sector chart shows the household/corporate distinction much more clearly. The household sector is now borrowing consistently and represents 32% of the overall net lending to other sectors.

The pattern continues as the corporate sector prefers to hoard rather than invest and the government tries to push debt onto the backs of the household sector.

Source: Office of National Statistics, tables RPYH, RQAJ, RQBN, RQBV, RPYN, RPZT, RQCH, DJDS (Seasonally adjusted Net Lending/Borrowing per sector plus residual error) and YBHA (Gross domestic product at market prices, seasonally adjusted). Data and calculations are available online