XN000022-1988-08-10 — Page 7

6

WEDNESDAY, AUGUST 10, 1988

THE GROWTH

RATE

IN REAL

OF TERMS

PRIVATE

CONSUMPTION

WITH

EXPENDITURE HAS BEEN REVISED DOWNWARDS TO 8.8 PER CENT, COMPARED THE PREVIOUSLY PUBLISHED ESTIMATE OF 9.6 PER CENT.

GROSS AT "ONSTANT MINOR REVISIONS HAVE ALSO BEEN MADE TO THE ESTIMATES FOR DOMESTIC FIXED CAPITAL FORMATION AND IMPORTS OF SERVICES PRICES.

REVISED PRODUCTION-BASED GDP ESTIMATES FOR 1986 (TABLE 2)

WHICH THE REVISED PROVISIONAL ESTIMATE OF THE PRODUCTION-BASED GDP AT

COST), FACTOR CURRENT PRICES FOR 1986 IS $284,810 MILLION (AT HAS BEEN REVISED SLIGHTLY UPWARDS BY $227 MILLION OR 0.1 PER COMPARED TO THE PROVISIONAL ESTIMATE PUBLISHED IN FEBRUARY 1988.

CENT AS

ΤΟ MADE BEEN

THE AND STORAGE $798 MILLION

RELATIVELY MORE SIGNIFICANT REVISIONS HAVE ESTIMATES FOR THE CONSTRUCTION SECTOR AND THE TRANSPORT, COMMUNICATION SECTOR, IN WHICH AN UPWARD ADJUSTMENT AND A DOWNWARD ADJUSTMENT OF $1,116 MILLION HAVE BEEN MADE.

OF

THE

ESTIMATE FOR

PER 4.5

CENT IN TERMS OF PERCENTAGE CONTRIBUTIONS TO GDP,

STORAGE AND THE CONSTRUCTION SECTOR HAS BEEN ADJUSTED UPWARDS FROM

THAT FOR THE TRANSPORT, WHEREAS

TO PER CENT, TO 4.8 COMMUNICATION SECTOR HAS BEEN ADJUSTED DOWNWARDS FROM 8.4 PER CENT 8.0 PER CENT.

SECTORS ECONOMIC OTHER REVISIONS MADE TO THE

ARE GENERALLY

INSIGNIFICANT.

ECONOMIC

FOLLOWING SURVEYS

THE PRODUCTION-BASED GDP ESTIMATES HAVE BEEN REVISED

THE ANNUAL THE AVAILABILITY OF FINAL RESULTS FROM COVERING VARIOUS SECTORS.

THE SCHEDULE FOR PUBLISHING GDP ESTIMATES

PROCESS OF THE ROUTINE REVISIONS OF THIS NATURE ARE PART OF

BECAUSE THE DATA OFTEN PRODUCING ESTIMATES OF THE GDP. THEY ARE NECESSARY USED IN COMPILING THE GDP ESTIMATES ARE AVAILABLE IN STAGES AND WITH SIGNIFICANT TIME LAGS.

ESTIMATES,

OF

AS A RESULT, THE COMPILATION OF THE PRELIMINARY GDP WHICH ARE PUBLISHED AROUND FEBRUARY/MARCH OF EACH YEAR AT THE TIME THE BUDGET, INVOLVES USING PARTIAL DATA FOR THE PREVIOUS YEAR WITH THE DATA GAPS BEING BRIDGED UP BY EXTRAPOLATION AND JUDGEMENT.

THE OVER

COMPLETE DATA THE GDP ARE

TWO YEARS, INCREASINGLY

OF ESTIMATES

FOLLOWING

AS

THEY

DO,

THE

BECOME AVAILABLE AND, SYSTEMATICALLY REVISED AT HALF-YEARLY INTERVALS.

FURTHER DETAILS CONCERNING THE REVISED

GDP ESTIMATES

MAY RE STATISTICS

OBTAINED FROM THE NATIONAL INCOME BRANCH OF THE CENSUS AND DEPARTMENT ON TEL.

5-8235077.

Table 1