Acronyms
- AA - Against actuals
- A transaction generally used by two hedgers who want to exchange futures or cash positions.
- ASHE - Anual survey of hours and earnings
- The Annual Survey of Hours and Earnings provides information about the levels, distribution and make-up of earnings and hours paid for employees within industries, occupations and regions.
- BoE - Bank of England
- The Bank of England is the central bank of the United Kingdom. Standing at the centre of the UK's financial system, the Bank is committed to promoting and maintaining monetary and financial stability as its contribution to a healthy economy.
- BOP - Balance of Payments
- An accounting record of all transactions made by a country over a certain time period, comparing the amount of foreign currency taken in to the amount of domestic currency paid out.
- BPI - Buying Power Index
- The buying power index is used to describe the amount of purchasing power within a region.
- BSI - British Standards Institute
- Since its foundation in 1901 as the Engineering Standards Committee, BSI Group has grown into a leading global independent business services organization providing standard-based solutions in more than 140 countries.
- COMEX - Commodity Exchange
- Open and organized marketplace where ownership titles to standardized quantities or volumes of certain commodities (at a specified price and to be delivered on a specified date) are traded by its members.
- CP - Ceteris Paribus (Latin)
- Ceteris paribus is a Latin phrase, literally translated as ""with all other things being equal." Such assumptions are relevant to the descriptive purpose of modeling a theory.
- CPI - Consumer Price Index
- Consumer Price Index is an inflationary indicator that measures the change in the cost of a fixed basket of products and services, including housing, electricity, food, and transportation.
- CVM - Contingent valuation method
- Contingent valuation is a survey-based economic technique for the valuation of non-market resources, such as environmental preservation or the impact of contamination.
- DIE - Designated Investment Exchange
- Any investment exchange outside the UK that is acknowledged by the UK.
- DWP - Department for work and pentions
- The Department for Work and Pensions is responsible for welfare and pension policy and is a key player in tackling child poverty. It is the biggest public service delivery department in the UK and serves over 20 million customers.
- ECB - European Central Bank
- The ECB is the central bank for Europe's single currency, the euro. The ECB's main task is to maintain the euro's purchasing power and thus price stability in the euro area.
- FDI - Foreign Direct Investment
- Foreign direct investment refers to long term participation by country A into country B. It usually involves participation in management, joint-venture, transfer of technology and expertise.
- FTSE - Financial Times Stock Exchange
- FTSE provides timely indices for stock markets around the world.
- GDP - Gross Domestic Product
- The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
- GNP - Gross National Product
- It is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country.
- GVA - Gross Value Added
- Alternative term for gross domestic product.
- HDI - Human Development Index
- The Human Development Index, which is a summary composite index that measures a country's average achievements in three basic aspects of human development: longevity, knowledge, and a decent standard of living.
- HH - Household
- The household is the basic unit of analysis in many social, microeconomic and government models. The term refers to all individuals who live in the same dwelling.
- HICP - Harmonised index of consumer prices
- The harmonised index of consumer prices is a CPI figure realsed by eurostat which harmonises the method of calculating the CPI over several countries. This allows them to be comparable.
- IMF - The International Monetary Fund
- The International Monetary Fund is the intergovernmental organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rate and the balance of payments.
- ISO - Independent System Operator
- An ISO is a neutral party responsible for the management and control of the electric transmission grid in a state or region.
- LFS - Labor Force Survey
- The Labour Force Survey is a quarterly sample survey of households living at private addresses in Great Britain. Its purpose is to provide information on the UK labour market that can then be used to develop, manage, evaluate and report on labour market policies.
- MBS - Mortgage backed security
- A mortgage backed security is an asset-backed security or debt obligation that represents a claim on the cash flows from mortgage loans, most commonly on residential property.
- MPC - Monetary Policy Committee
- The Monetary Policy Committee is a committee of the Bank of England, which meets every month to decide the official interest rate in the United Kingdom.
- NAFTA - North American Free Trade Agreement
- The North American Free Trade Agreement is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.
- NPISH - Non Profit Institutions Serving Households
- This category includes bodies such as Charities, Universities, Churches, Trade Unions or Members Clubs. This category is normally included in the Household and NPISH sector within National Accounts.
- NSA - Not seasonally adjusted
- Not seasonally adjusted means that the raw data is being shown.
- ONS - Office for National Statistics
- The Office for National Statistics produces independent information to improve our understanding of the UK's economy and society.
- PPI - Producer Price Index
- The PPI measures average changes in prices received by domestic producers for their output. It is one of several price indices.
- PPP - Purchasing power parity
- Purchasing power parity is a theory of long-term equilibrium exchange rates based on relative price levels of two countries. The concept is founded on the law of one price; the idea that in absence of transaction costs, identical goods will have the same price in different markets.
- RPI - Retail Price Index
- Retail Price Index is an inflationary indicator that measures the change in the cost of a fixed basket of retail goods. The RPI includes mortage repayments and council tax which is not included in the CPI.
- SA - Seasonally Adjusted
- Seasonal adjustment is a statistical method for removing the seasonal component of a time series used when analyzing non-seasonal trends. Whereas, not seasonally adjusted reflects the actual current data.
- WFJ - Workforce Jobs
- Estimates of employee jobs are derived by applying movements calculated from Short Term Employer Surveys.
