SLIM HLMR - Broad Outcome Indicators

This page reviews output and productivity in the region. It provides access to the data used in the HLMR to monitor the output and productivity related indicators in the South West. It also provides access and links to further related data and intelligence.

Definition

GDP measures provide an indicator of total economic activity or output. This is represented by regional data as Gross Value Added (GVA) at basic prices.

Comparisons of GVA growth are based either on the difference between regional increases at current prices or on movements in the amount relative to the UK average. This is because the data is based on current prices, which makes it difficult to assess whether growth is 'real' growth or whether it merely reflects changes in prices (price inflation). To assess trends in GVA it is usually assumed that all regions experience similar levels of price inflation.

Indicators

The indicators in this section include:

Total GVA
GVA per head & per head indexed

Downloads

Regional output data [.xls, 46KB]

Subregional output data [.xls 157KB]

Definition

Productivity refers to how well an economy uses the resources it has available by relating the quantity of inputs to outputs. Measures of productivity are generally headed under two of the primary economic inputs, labour and capital. There are a number of measures of productivity of which no single one can be used to define success. Productivity and any changes within it are part of a trade off process between a number of different social choices, and maximising any measures of productivity have to be balanced against these social trade offs.