The policy employed for the 2005 Blue Book is that, in general, only periods from 2002 quarter one onwards will be open for revisions to both current price and chained volume estimates of GDP. The annual benchmarking exercise reflects the incorporation of new and revised current price data as part of the normal Input-Output Supply and Use balancing process; 2003 is being balanced through the Input-Output Supply and Use framework for the first time, and 2002 will be re-balanced. In addition, several revisions will be taken back to the start of 1996.
Most notably, revised estimates are expected for pension components, government output, financial intermediation services indirectly measured (FISIM) and taxes and subsidies on products.
Published in web format: 24 January 2005 at 9:30 am
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