| Economics and Statistics Website : Regional Economic Performance PSA Indicators |
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Regional Economic Performance PSA indicatorsThe indicators were updated in October 2007. The latest version can be accessed here. The 2002 Spending Review committed the Government to a new Public Service Agreement (PSA) target to: "Make sustainable improvements in the economic performance of all English regions by 2008 and over the long term reduce the persistent gap in growth rates between the regions, demonstrating progress in 2006". HM Treasury, the Department for Trade and Industry and the Communities and Local Government are jointly responsible for the delivery of this target. The Regional Economic Performance Indicators (REPIs) website has been developed as a tool for monitoring regional progress towards the PSA target. The REPIs will track the performance of the key drivers of economic growth in each region, alongside the key target - the trend rate of growth in Gross Value Added (GVA) per capita. Disparities in regional economic growth are a function of regional variations in productivity and employment, with productivity itself being split into the "five drivers" of productivity namely enterprise, investment, innovation, competition and skills. Detail on the development of the set of indicators used under each of these headings can be found in the document Benchmarking UK productivity performance. The website presents publicly available data on GVA1 and the indicators for the five drivers of productivity, in table and graph form, for the nine English regions, Scotland, Wales and Northern Ireland. These will be updated on a regular basis, with the next update (including data consistent with the latest GVA figures, published in December 2006) To access the latest data (December 2006), click here. Previous data (August 2006) is available click here 1The Regional Economic Performance: Performance to date document refers to GVA per head (adjusted) figures which take account of inflation. To produce these, nominal GVA per head has been deflated using GVA deflator at basic prices (2002 = 100), based on December 2005 ONS data.
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