Version: 3.0.1 | Published: 19 Sep 2023 | Updated: 502 days ago
Decision Maker Panel - UK
Dataset
Summary
Citation:
Bank of England, released 04 July 2023, ONS SRS Metadata Catalogue, dataset,
Decision Maker Panel - UK, https://doi.org/10.57906/0jy2-1b68
DOI Name:
Documentation
Associated Media:
Description:
The Decision Maker Panel (DMP) is a survey of UK businesses that was set up in August 2016 by the Bank of England in collaboration with Stanford University and the University of Nottingham. The survey has benefited from financial support from the Economic and Social Research Council. It focusses on businesses’ expectations and uncertainty, particularly in relation Covid-19 and Brexit. The panel draws information from Financial Officers in UK companies operating in a broad range of industries and is designed to be representative of the population of UK businesses.
The sampling frame for the DMP is the population of all 48,000 active UK businesses with 10 or more employees in the Bureau van Dijk FAME database. It covers small, medium and large private sector businesses across all industries. Firms are selected randomly from this sampling frame and are invited by telephone to join the panel by a recruitment team based at the University of Nottingham. This approach helps to ensure that the survey provides a representative view of the UK economy. Once firms are part of the panel they receive monthly emails with links to a 5- to 10-minute online survey. Firms that do not respond to the survey for three consecutive months are re-contacted by telephone to check whether they received the emails or have other reasons for not completing the survey. When the DMP firm recruitment team first contact firms they ask to speak to the CFO, and failing that the CEO. As a result around 85% of respondents are in these two positions (approximately 70% are CFOs and 15% are CEOs) with the remainder mostly senior finance managers.
The surveys have a rotating three-panel structure – each member is randomized at entry into one of the three panels. Each panel is given one third of the questions in any given month, so that within each quarter all firms rotate through all questions. Survey A typically focussed on sales and prices, Survey B on employment and Survey C on capital expenditure. In addition, since May 2019 there has been an introductory questionnaire (Survey N) which all new panel members receive in their first month which asks about the characteristics of the business.
The DMP contains both regular questions and special questions. In the regular questions, respondents are asked once a quarter about recent developments in their sales, prices, employment and investment. They are also asked about their expectations for each of these variables over the next year, and are asked about the distribution of their expectations, not just for a point forecast. Firms are asked for their lowest, low, medium, high and highest expectations and the probabilities associated with them. As a result subjective expectations and uncertainty can be generated for each of these variables.
Coverage
Spatial
Spatial Coverage:
United Kingdom
Geographical Levels:
n/a
Temporal
Start Date:
01 August 2016
Latest Data:
31 October 2022
Frequency:
QUARTERLY
Distribution Release Date:
04 July 2023
Provenance
Source:
Survey
Access and Governance
Usage
Condition of Access:
- Access needs approval
- Restricted access
Condition of Use:
Output required for approval
Resource Creator:
Office for National Statistics
Access
Access Service:
- Safe Rooms, SafePods
- Assured Organisational Connectivity – office based
- Assured Organisational Connectivity – remote access
Jurisdictions:
- GB-EAW
- GB-SCT
- GB-NIR
Data Controller:
Bank of England
Access Level:
Access Level 3
Format and Standards
Languages:
en
Formats:
- CSV
- STATA
Origin
Name:
ONS SRS Metadata Catalogue