Changes to the picture of the UK economy - impact of the new SIC 2007 industry classification

SummaryThe new Standard Industrial Classification (SIC 2007) which is currently being implemented in the UK, and across Europe as NACE Rev21, has resulted in some major classification changes. Some key business surveys are now being collected and reported on the basis of the new SIC 2007 classification, including Workforce Jobs (WFJ) and the Annual Business Inquiry (ABI). This article uses these outputs to give a first quantitative picture for key economic measures to examine the impact of the classification changes across the UK economy.