The UK’s struggling statistics agency, the Office for National Statistics (ONS), has decided against reverting to its pre-pandemic schedule of releasing important economic statistics before financial markets open, out of concern for the stability of its outdated website, which may not be able to handle the increased traffic. Since March 2020, statistics such as GDP and inflation data have been released at 7am to allow investors to digest the information before the London stock market opens at 8am. The Office for Statistics Regulation (OSR) has backed the ONS’s decision to continue releasing data at 7am, citing the need to protect the accessibility of the website for all users.
The ONS is under considerable scrutiny due to issues with data collection, stemming from years of inadequate investment. Bank of England officials have criticized the ONS for its failure to recover from the reduced survey participation rates during the pandemic. These issues have made it difficult for the central bank to accurately assess levels of unemployment and earnings.
The OSR acknowledged that the earlier release time enhances the visibility of key statistics through media coverage, thereby serving the public interest. It also noted that shifting back to a 9:30am release could lead to website overload and disruptions in data access. While opinions from media outlets were divided, analysts from the City were against the change, preferring data to be released during business hours for thorough analysis.
The Bank of England, seeking alternative data sources, has considered business surveys by S&P Global Market Intelligence, which are generally released at 9:30am. Analysts have suggested that the ONS could alleviate its website pressure by allowing other organizations to receive data under embargo.
The issue of data reliability has been marked by a significant drop in survey responses. Senior ONS staff reportedly expressed concern over a drastic reduction in the sample size for the labor market survey, which dropped to as low as five individuals. In light of these challenges, the ONS is focusing its efforts on improving its key statistics and services, including the development of a new website and methods to boost survey participation rates through additional interviewers, better incentives, and the implementation of AI technology.
Source: https://www.theguardian.com/uk-news/2025/mar/12/overloaded-website-prevents-uk-statistics-agency-from-releasing-economic-data-after-markets-open
