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Revisions to quarterly GDP growth and expenditure components
This article presents the results of the December 2003 Revisions Analysis of the growth rates of GDP and is one of a series pf articles published in Economic Trends that aim to regularly monitor the reliability of the estimates.
This article presents the results of the December 2003 GDP Revisions Analysis, updating the previous article published in May 2003.
It investigates the change from the first to the latest estimate of the quarterly growth in GDP, and the changes to the expenditure components of GDP.
Estimates of the bias and dispersion of the quarterly revisions are made, at the different stages of the National Accounts process, for the quarters from 1993 Q1 to 2000 Q4.
The analysis examines the effects of annual chain-linking, adjustments for the VAT Missing Trader Intra-Community (MTIC) fraud, methodological improvements to deflation methods and quantity indicators, and new data across a range of series introduced in the Blue Book 2003 publication.
Published in web format: 8 December 2003 at 9:30 am
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