Wednesday, July 30, 2014   

UK to count prostitution, drugs when calculating GDP
(05-30 17:52)

Britain's Office of National Statistics says prostitution and the import, manufacture and consumption of illegal drugs should be counted when making the government's quarterly calculations of gross domestic product.
The UK statistics agency says some of these activities are legal in certain European Union countries, and comparable figures are needed. At the moment, the only illegal activities included in GDP are estimates on alcohol and tobacco smuggling.
The ONS said Friday that the new estimates would add approximately 10 billion pounds ($16.7 billion) to the level of GDP in 2009.
ONS Chief Economic Adviser Joe Grice says that as economies develop and evolve, "so do the statistics we use to measure them.'' --AP   
Other World breaking news:
(Flight MH17) Dutch police receive 150 crash images, videos (07-29 18:53)
Japan finishes whale hunt in Pacific (07-29 18:08)
NKorea offers to return body of SKorean man (07-29 18:08)
Dutch PM urges Ukraine to stop fighting near crash site (07-29 18:00)
EU envoys meeting on tougher Russia sanctions (07-29 17:58)
Karzai cousin killed in suicide bomb attack (07-29 17:14)
Curtains, fire hoses save SKorea ferry survivors (07-29 17:02)
(Flight MH17) Ukraine fighting stops investigators: official (07-29 15:55)
Truck driver kills 12 pilgrims on India highway (07-29 15:16)
Japan teen murder accused 'wanted to dissect' someone: report (07-29 13:19)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.