Leap Year 2016: Here's how ONS data be affected by that extra day on 29 February

Edith Hancock
Follow Edith
Feeling more productive? That'll just be that extra day (Source: Getty)

Could 2016's leap year help solve our productivity crisis? Or, at the very least, paper over the cracks?

The ONS has crunched the numbers to show how economic data is affected by a leap day this year - and those numbers are clearly going to tick up.

The maths is fairly obvious - one extra day means one-28th more could be produced in a month. That means in theory, a firm could announce that production rose by as much as four per cent in 2016 just because of that extra day in February.

But for those who will be poring over ONS data, not all areas are affected by that extra day. Retail figures, for example, shouldn't need to take leap years into account at all, as survey periods tend to be in four or five week stretches rather than a calendar month.

However, the fact that this year's leap day falls during the week means that statistics - both governmental and corporate - could be thrown out.

Something to consider when poring over those numbers.

Related articles