VICS: Volume Index of Capital Services for UK Productivity Analysis

Volume Index of Capital Services (VICS) is an experimental official statistic measuring capital input to economic production. It is produced by the UK's Office for National Statistics and weights asset growth using a user cost of capital for multi-factor productivity analysis. The dataset was last updated on 2026-07-08.

Use Cases

• Calculate multi-factor productivity based on the capital input measure described.
• Analyze the contribution of capital quality and utilization to economic growth based on the VICS methodology.
• Model long-term economic trends using a time-series index of capital services.
• Compare capital input measures using user-cost weighting versus price-based National Accounts methods.

Strengths

• Produced by the authoritative Office for National Statistics, a national statistical institute.
• Implements a specific methodological approach using a user cost of capital for weighting.
• Designated as Experimental Official Statistics, indicating ongoing development and transparency.

Limitations

• Column-level documentation is absent; field semantics must be inferred after download.
• Row count and dataset scale are unknown, which may limit suitability assessment.
• Data may reflect geographic bias inherent to uk_data, focusing on the United Kingdom.

Provenance

Source

Office for National Statistics

Collection Method

Likely derived from national accounts and capital stock data, using a user cost of capital weighting methodology.

Freshness

Last updated 2026-07-08 13:33:29.936331; freshness should be verified.

Geography

Likely United Kingdom, inferred from the source agency and platform.