UK regulator says it is 'critical' ONS reverses data quality slump - Finance news and analysis from Global Banking & Finance Review
Finance

UK regulator says it is 'critical' ONS reverses data quality slump

Published by Global Banking & Finance Review

Posted on April 7, 2025

1 min read

· Last updated: April 7, 2025

Add as preferred source on Google

UK Regulator Urges ONS to Reverse Data Quality Decline

LONDON (Reuters) - Britain's Office for National Statistics must take urgent steps within the next four weeks to reverse a fall in the quality of key economic statistics including those for unemployment, a regulator said on Monday.

"It is critical that ONS takes decisive action to restore confidence. ONS should publish a fully resourced plan to recover its social survey operation and reduce risk in its business survey operation ... within four weeks of the publication of this review," the Office for Statistics Regulation said.

(Reporting by David Milliken; Editing by William Schomberg)

Key Takeaways

  • UK regulator demands ONS improve data quality.
  • Focus on unemployment and economic statistics.
  • ONS has four weeks to publish a recovery plan.
  • Confidence in ONS data needs restoration.
  • Business survey operations also under scrutiny.

Frequently Asked Questions

What is the main topic?
The article discusses the UK regulator's demand for the ONS to improve the quality of its economic statistics, particularly unemployment data.
Why is the ONS data quality important?
High-quality data is crucial for accurate economic analysis and policy-making, affecting decisions on unemployment and other economic indicators.
What actions are expected from ONS?
The ONS is expected to publish a fully resourced plan to recover its social survey operation and reduce risk in its business survey operation within four weeks.

Related Articles

More from Finance

Explore more articles in the Finance category