281730
/en/nasjonalregnskap-og-konjunkturer/statistikker/knr/kvartal
281730
statistikk
2017-11-14T08:00:00.000Z
National accounts and business cycles
en
knr, National accounts, gross domestic product, GDP, value added, gross product by industry, gross investments, household consumption, consumption in non-profit organisations, public consumption, material production, service production, export, import, wage costs, employment, man-hours, oil investments, mainland NorwayNational accounts , National accounts and business cycles
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National accounts

Updated

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Key figures

0.6 %

seasonally adjusted volume growth for GDP mainland Norway

Quarterly National Accounts. Seasonally adjusted change in volume from the previous period. Per cent1
201520161st quarter 20172nd quarter 20173rd quarter 2017
1Figures from 2016 onwards are preliminary.
Gross domestic product2.01.10.11.10.7
Gross domestic product Mainland Norway1.41.00.70.60.6
Petroleum activities and ocean transport4.31.8-2.53.91.5
Final domestic use of goods and services0.72.70.90.3-0.2
Final consumption expenditure of households and NPISH2.61.50.70.70.6
Final consumption expenditure of general government2.42.10.50.80.5
Gross fixed capital formation (GFCF)-4.0-0.20.61.50.3
Total exports4.7-1.8-1.02.10.9
Total imports1.62.31.0-0.2-1.8
 
Employed persons0.40.30.30.30.3
Total hours worked0.60.70.10.20.4

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Table 1 
Final expenditure and gross domestic product. At current prices. NOK million

Final expenditure and gross domestic product. At current prices. NOK million1
201520163rd quarter 20164th quarter 20161st quarter 20172nd quarter 20173rd quarter 2017
1Figures from 2016 onwards are preliminary.
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices
3
Final consumption expenditure of households and NPISHs1 353 7231 418 700357 135365 697352 939368 460371 698
¬ Household final consumption expenditure1 281 1711 342 788339 125345 867332 863349 127353 160
¬¬ Goods592 469615 478151 067168 182147 200157 826155 617
¬¬ Services621 993657 209166 149165 561168 204173 250174 187
¬¬ Direct purchases abroad by resident households106 006113 81535 19223 06125 10030 29936 973
¬¬ Direct purchases by non-residents-39 297-43 715-13 283-10 937-7 641-12 248-13 618
¬ Final consumption expenditure of NPISHs72 55275 91218 01119 83020 07619 33318 538
Final consumption expenditure of general governmen729 267757 571188 121192 804192 530201 201197 672
¬ Final consumption expenditure of central government368 749382 63194 03399 10396 485100 78098 666
¬¬¬ Central government, civilian325 138337 96783 24087 68885 57189 00387 618
¬¬¬ Central government, defence43 61144 66410 79311 41610 91411 77811 048
¬ Final consumption expenditure of local government360 518374 94094 08893 70196 044100 42199 006
 
Gross fixed capital formation (GFCF)741 413750 491189 993196 481183 606199 083195 799
¬ Extraction and transport via pipelines (GFCF)201 658164 89041 40740 51636 22840 54936 882
¬ Ocean transport (GFCF)-867-1 775-277-611-1 817-567-325
¬ Mainland Norway (GFCF)540 622587 375148 863156 576149 195159 101159 242
¬¬ Industries (GFCF)223 056237 93759 06864 93758 79762 68665 971
¬¬¬ Services activities incidential to extraction (GFCF)4 7852 0522365081 0709181 707
¬¬¬ Other services (GFCF)131 832142 07036 12437 33536 81238 73237 657
¬¬¬ Manufacturing and mining (GFCF)31 26234 7317 57910 7327 5217 5168 069
¬¬¬ Production of other goods (GFCF)55 17759 08515 12916 36113 39315 52018 538
¬¬ welling service (households) (GFCF)165 708184 82946 45449 65249 74751 27051 448
¬¬ General government (GFCF)151 858164 60943 34141 98740 65145 14541 823
Acquisitions less disposals of valuables3483668399969485
Changes in stocks and statistical discrepancies117 955162 99129 34139 02256 41130 88528 438
Gross capital formation859 716913 847219 417235 601240 113230 062224 322
 
Final domestic use of goods and services2 942 7063 090 118764 674794 103785 581799 724793 693
Final demand from Mainland Norway (excl. changes in stocks)2 623 6122 763 646694 120715 077694 663728 762728 613
Final demand from general government881 125922 180231 463234 791233 181246 346239 495
 
Total exports1 176 0781 064 050253 273294 266292 982279 730272 971
¬ Traditional goods (export)374 196355 72788 06889 37293 01594 23093 450
¬ Crude oil and natural gas (export)445 209373 37584 286111 861120 391103 48197 098
¬ Ships, oil platforms and aircraft (export)11 50817 3233 0669 2017 5232 8801 690
¬ Services (export)345 165317 62577 85383 83272 05379 13980 733
 
Total use of goods and services4 118 7844 154 1681 017 9471 088 3691 078 5631 079 4541 066 664
 
Total imports1 000 6681 037 136264 550261 547257 694271 006271 125
¬ Tradisjonelle varer (import)587 771593 783145 929154 078153 223157 956155 150
¬ Crude oil and natural gas (import)10 9088 6082 6271 8182 6853 6993 356
¬ Ships, oil platforms and aircraft (import)34 89545 44013 33712 45713 78311 5587 783
¬ Services (import)367 094389 305102 65793 19488 00397 793104 836
 
Gross domestic product, market values23 118 1163 117 032753 397826 822820 869808 448795 539
Gross domestic product Mainland Norway, market values22 621 0322 717 309666 851705 927690 469699 356689 101
 
Petroleum activities and ocean transport3497 084399 72386 546120 894130 400109 091106 438
Gross domestic product Mainland Norway, basic values2 278 4222 358 776576 992611 653602 985605 568595 266
¬ Mainland Norway excluding general government (GDP)1 711 8381 772 339431 786461 693454 173448 329442 390
¬¬ Manufacturing and mining (GDP)219 267215 26252 01053 77758 03856 46953 495
¬¬ Production of other goods (GDP)276 957318 78779 83988 97486 68776 29283 863
¬¬ Service activities (GDP)1 215 6141 238 290299 936318 942309 448315 569305 033
¬ General government (GDP)566 584586 437145 206149 959148 812157 239152 876
Taxes and subsidies products342 610358 53389 85994 27587 48493 78893 835

Table 2 
Final expenditure and gross domestic product. At constant 2015-prices. NOK million

Final expenditure and gross domestic product. At constant 2015-prices. NOK million1
201520163rd quarter 20164th quarter 20161st quarter 20172nd quarter 20173rd quarter 2017
1Figures from 2016 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices
Final consumption expenditure of households and NPISHs1 353 7231 374 069349 022352 256335 382350 302357 902
¬ Household final consumption expenditure1 281 1711 300 126330 921333 521315 792332 247339 809
¬¬ Goods592 469591 644144 911158 967139 420150 013148 461
¬¬ Services621 993641 144164 738162 068158 902165 198169 249
¬¬ Direct purchases abroad by resident households106 006109 81534 07723 03824 80428 71534 968
¬¬ Direct purchases by non-residents-39 297-42 477-12 805-10 552-7 334-11 678-12 869
¬ Final consumption expenditure of NPISHs72 55273 94318 10118 73419 59018 05518 092
Final consumption expenditure of general governmen729 267744 881187 582187 385187 135189 108191 188
¬ Final consumption expenditure of central government368 749377 10094 80694 85094 18995 10496 074
¬¬¬ Central government, civilian325 138333 55483 94984 00583 42484 38385 270
¬¬¬ Central government, defence43 61143 54610 85610 84510 76510 72110 804
¬ Final consumption expenditure of local government360 518367 78192 77692 53592 94694 00495 113
 
Gross fixed capital formation (GFCF)741 413739 701188 127192 750180 888193 799192 716
¬ Extraction and transport via pipelines (GFCF)201 658167 62443 01841 95538 49943 18740 892
¬ Ocean transport (GFCF)-867-1 698-257-601-1 817-562-317
¬ Mainland Norway (GFCF)540 622573 776145 366151 396144 206151 174152 141
¬¬Næringer (bruttoinvestering)223 056232 30557 87462 77156 95059 60863 340
¬¬¬ Services activities incidential to extraction (GFCF)4 7852 0102344981 0598961 733
¬¬¬ Other services (GFCF)131 832138 85935 38436 02735 65836 77636 064
¬¬¬ Manufacturing and mining (GFCF)31 26233 7947 42810 3707 2457 1377 737
¬¬¬ Production of other goods (GFCF)55 17757 64214 82915 87612 98914 79917 805
¬¬ Dwelling service (households) (GFCF)165 708180 68945 20248 05648 04348 68048 911
¬¬ General government (GFCF)151 858160 78342 29040 57039 21242 88639 890
Acquisitions less disposals of valuables3483588594949086
Changes in stocks and statistical discrepancies117 955162 29629 93239 32754 14328 65327 864
Gross capital formation859 716902 355218 144232 171235 125222 542220 666
 
Final domestic use of goods and services2 942 7063 021 304754 748771 811757 642761 952769 755
Final demand from Mainland Norway (excl. changes in stocks)2 623 6122 692 726681 970691 037666 723690 584701 231
Final demand from general government881 125905 663229 872227 955226 347231 993231 077
 
Total exports1 176 0781 154 865277 319304 241290 592289 388288 983
¬ Traditional goods (export)374 196343 69584 94383 79185 84486 11287 089
¬ Crude oil and natural gas (export)445 209464 491106 484124 459124 103116 737114 682
¬ Ships, oil platforms and aircraft (export)11 50816 7552 9358 9867 4522 8121 596
¬ Services (export)345 165329 92382 95787 00573 19383 72785 616
 
Total use of goods and services4 118 7844 176 1691 032 0671 076 0521 048 2341 051 3401 058 739
 
Total imports1 000 6681 024 020263 874257 044252 643261 932265 622
¬ Tradisjonelle varer (import)587 771585 418145 353150 471148 201150 704149 474
¬ Crude oil and natural gas (import)10 9089 7932 8681 8572 5413 5123 208
¬ Ships, oil platforms and aircraft (import)34 89544 12213 32111 91813 42110 8957 543
¬ Services (import)367 094384 688102 33192 79788 48096 821105 397
 
Gross domestic product, market values23 118 1163 152 149768 193819 008795 592789 408793 117
Gross domestic product Mainland Norway, market values22 621 0322 646 221655 301682 521661 722664 014667 739
 
Petroleum activities and ocean transport497 084505 928112 892136 487133 869125 393125 378
Gross domestic product Mainland Norway, basic values2 278 4222 295 067567 366591 498575 663574 078577 879
¬ Mainland Norway excluding general government (GDP)1 711 8381 715 599421 270445 508429 964427 083429 408
¬¬ Manufacturing and mining (GDP)219 267210 21849 73553 25854 91851 92049 595
¬¬ Production of other goods (GDP)276 957284 35871 39175 51774 10366 15773 744
¬¬ Service activities (GDP)1 215 6141 221 024300 144316 732300 943309 006306 069
¬ General government (GDP)566 584579 468146 096145 991145 699146 995148 471
Taxes and subsidies products342 610351 15487 93591 02386 05989 93689 861

Table 3 
Final expenditure and gross domestic product. Percentage change in volume from the same period in the previous year

Final expenditure and gross domestic product. Percentage change in volume from the same period in the previous year1
201520163rd quarter 20164th quarter 20161st quarter 20172nd quarter 20173rd quarter 2017
1Figures from 2016 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs2.61.51.31.22.21.62.5
¬ Household final consumption expenditure2.31.51.21.22.01.92.7
¬¬ Goods1.2-0.1-1.1-0.50.90.32.4
¬¬ Services3.93.13.22.93.23.02.7
¬¬ Direct purchases abroad by resident households1.53.64.72.2-0.53.42.6
¬¬ Direct purchases by non-residents9.88.110.05.2-2.70.80.5
¬ Final consumption expenditure of NPISHs9.01.92.41.65.3-2.50.0
Final consumption expenditure of general governmen2.42.12.02.91.71.71.9
¬ Final consumption expenditure of central government3.12.32.22.50.71.31.3
¬¬¬ Central government, civilian3.12.62.53.01.01.61.6
¬¬¬ Central government, defence3.5-0.1-0.7-0.9-1.7-1.5-0.5
¬ Final consumption expenditure of local government1.62.01.93.22.72.22.5
 
Gross fixed capital formation (GFCF)-4.0-0.22.72.14.24.62.4
¬ Extraction and transport via pipelines (GFCF)-12.2-16.9-14.0-11.4-2.90.4-4.9
¬ Ocean transport (GFCF)..............
¬ Mainland Norway (GFCF)-0.26.18.96.87.55.84.7
¬¬ Industries (GFCF)-2.84.18.36.98.40.89.4
¬¬¬ Services activities incidential to extraction (GFCF)3.8-58.0-74.3-33.418.8131.5641.5
¬¬¬ Other services (GFCF)-5.15.313.95.612.82.61.9
¬¬¬ Manufacturing and mining (GFCF)-11.98.10.410.8-6.0-13.94.2
¬¬¬ Production of other goods (GFCF)9.54.55.49.55.31.420.1
¬¬ Dwelling service (households) (GFCF)3.29.011.09.512.09.38.2
¬¬ General government (GFCF)0.25.97.73.61.29.5-5.7
Acquisitions less disposals of valuables-14.12.80.84.07.5-1.91.0
Changes in stocks and statistical discrepancies-0.337.630.627.718.6-39.5-6.9
Gross capital formation-3.45.05.85.77.2-4.41.2
 
Final domestic use of goods and services0.72.72.72.93.6-0.22.0
Final demand from Mainland Norway (excl. changes in stocks)2.02.63.02.83.22.62.8
Final demand from general government2.02.83.03.01.63.10.5
 
Total exports4.7-1.8-5.1-1.80.32.04.2
¬ Traditional goods (export)6.9-8.2-7.4-13.4-1.0-2.42.5
¬ Crude oil and natural gas (export)2.14.3-2.74.90.36.37.7
¬ Ships, oil platforms and aircraft (export)0.045.6-5.1215.3256.82.4-45.6
¬ Services (export)7.1-4.4-5.6-4.9-5.21.13.2
 
Total use of goods and services1.91.40.51.52.60.42.6
 
Total imports1.62.34.21.43.21.40.7
¬ Tradisjonelle varer (import)3.2-0.42.0-0.85.70.92.8
¬ Crude oil and natural gas (import)-0.1-10.25.8-27.9-5.247.111.8
¬ Ships, oil platforms and aircraft (import)-6.726.436.363.157.45.2-43.4
¬ Services (import)0.14.84.21.0-5.10.53.0
 
Gross domestic product, market values22.01.1-0.71.62.50.13.2
Gross domestic product Mainland Norway, market values21.41.00.80.92.9-0.21.9
 
Petroleum activities and ocean transport34.31.8-8.55.10.12.111.1
Gross domestic product Mainland Norway, basic values1.30.70.50.72.9-0.41.9
¬ Mainland Norway excluding general government (GDP)0.90.2-0.10.33.3-1.21.9
¬¬ Manufacturing and mining (GDP)-4.6-4.1-4.0-2.64.7-5.2-0.3
¬¬ Production of other goods (GDP)0.92.70.63.14.1-0.23.3
¬¬ Service activities (GDP)2.00.40.40.12.8-0.82.0
¬ General government (GDP)2.32.32.42.31.72.01.6
Taxes and subsidies products2.32.52.42.03.41.12.2

Table 4 
Final expenditure and gross domestic product. Percentage change in prices from the same period in the previous year

Final expenditure and gross domestic product. Percentage change in prices from the same period in the previous year1
201520163rd quarter 20164th quarter 20161st quarter 20172nd quarter 20173rd quarter 2017
1Figures from 2016 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs2.43.23.12.71.51.91.5
¬ Household final consumption expenditure2.43.33.22.71.51.91.4
¬¬ Goods1.94.04.24.63.21.70.5
¬¬ Services1.92.52.72.01.22.32.0
¬¬ Direct purchases abroad by resident households7.73.61.1-4.6-4.70.72.4
¬¬ Direct purchases by non-residents1.92.93.22.93.02.32.0
¬ Final consumption expenditure of NPISHs2.72.72.12.81.62.63.0
Final consumption expenditure of general governmen3.01.71.23.73.02.63.1
¬ Final consumption expenditure of central government3.21.50.93.23.42.73.5
¬¬¬ Central government, civilian3.61.30.73.33.62.73.6
¬¬¬ Central government, defence0.12.62.52.82.13.32.9
¬ Final consumption expenditure of local government2.71.91.64.22.52.42.6
 
Gross fixed capital formation (GFCF)3.01.52.60.10.70.70.6
¬ Extraction and transport via pipelines (GFCF)1.8-1.61.7-6.3-6.0-6.7-6.3
¬ Ocean transport (GFCF)-20.54.5-27.817.6-8.9-3.0-4.9
¬ Mainland Norway (GFCF)3.52.42.52.02.42.72.2
¬¬ Industries (GFCF)2.92.42.61.21.62.72.0
¬¬¬ Services activities incidential to extraction (GFCF)-5.82.12.12.4-1.20.1-2.3
¬¬¬ Other services (GFCF)2.52.32.71.32.13.02.3
¬¬¬ Manufacturing and mining (GFCF)4.12.82.11.11.62.22.2
¬¬¬ Production of other goods (GFCF)3.82.52.31.00.92.22.1
¬¬ Dwelling service (households) (GFCF)3.22.32.52.83.02.92.4
¬¬ General government (GFCF)4.92.42.42.22.72.62.3
Acquisitions less disposals of valuables21.72.1-2.95.20.30.52.0
Changes in stocks and statistical discrepancies-11.30.46.214.91.47.04.1
Gross capital formation0.81.32.91.80.91.61.1
 
Final domestic use of goods and services2.12.32.62.71.72.01.8
Final demand from Mainland Norway (excl. changes in stocks)2.82.62.52.82.12.32.1
Final demand from general government3.31.81.53.42.92.62.9
 
Total exports-8.0-7.9-8.60.012.86.43.4
¬ Traditional goods (export)2.03.54.06.87.16.63.5
¬ Crude oil and natural gas (export)-20.9-19.6-19.7-1.430.614.17.0
¬ Ships, oil platforms and aircraft (export)15.53.4-42.635.3-4.7-1.11.4
¬ Services (export)2.0-3.7-5.3-4.8-1.4-0.80.5
 
Total use of goods and services-1.0-0.5-0.52.04.63.12.1
 
Total imports5.11.30.3-0.40.22.11.8
¬ Tradisjonelle varer (import)4.71.40.80.21.73.53.4
¬ Crude oil and natural gas (import)-20.0-12.1-5.613.533.723.014.2
¬ Ships, oil platforms and aircraft (import)12.43.00.0-3.4-2.43.03.1
¬ Services (import)6.01.2-0.1-1.6-2.8-0.8-0.8
 
Gross domestic product, market values2-2.8-1.1-0.82.86.03.42.3
Gross domestic product Mainland Norway, market values21.82.72.83.92.21.91.4
 
Petroleum activities and ocean transport3-21.5-21.0-21.9-3.431.214.910.7
Gross domestic product Mainland Norway, basic values1.92.82.94.12.31.81.3
¬ Mainland Norway excluding general government (GDP)1.63.33.93.91.91.50.5
¬¬ Manufacturing and mining (GDP)5.12.42.72.14.16.03.1
¬¬ Production of other goods (GDP)2.112.113.915.37.65.31.7
¬¬ Service activities (GDP)0.81.41.71.40.0-0.1-0.3
¬ General government (GDP)3.01.20.34.83.62.73.6
Taxes and subsidies products0.72.12.12.91.02.42.2

Table 5 
Final expenditure and gross domestic product. Seasonally adjusted figures. At current prices. NOK million

Final expenditure and gross domestic product. Seasonally adjusted figures. At current prices. NOK million1
201520163rd quarter 20164th quarter 20161st quarter 20172nd quarter 20173rd quarter 2017
1Figures from 2016 onwards are preliminary
2Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1 353 7231 418 700355 182358 342362 313367 776370 098
¬ Household final consumption expenditure1 281 1711 342 788336 232338 890342 805348 482350 571
¬¬ Goods592 469615 478154 228155 595156 202158 232159 273
¬¬ Services621 993657 209165 082166 825169 313171 650173 256
¬¬ Direct purchases abroad by resident households106 006113 81528 47527 50327 73129 72229 836
¬¬ Direct purchases by non-residents-39 297-43 715-11 553-11 032-10 441-11 121-11 794
¬ Final consumption expenditure of NPISHs72 55275 91218 95019 45219 50719 29419 527
Final consumption expenditure of general governmen729 267757 571189 354194 320195 238195 677198 978
¬ Final consumption expenditure of central government368 749382 63195 51198 01298 14198 644100 225
¬¬¬ Central government, civilian325 138337 96784 42586 68786 97187 34288 874
¬¬¬ Central government, defence43 61144 66411 08611 32511 16911 30311 351
¬ Final consumption expenditure of local government360 518374 94093 84396 30897 09797 03398 754
 
Gross fixed capital formation (GFCF)741 413750 491189 921190 647191 465196 808196 474
¬ Extraction and transport via pipelines (GFCF)201 658164 89040 65539 55238 84239 57936 240
¬ Ocean transport (GFCF)-867-1 775-481-796-1 379-624-519
¬ Mainland Norway (GFCF)540 622587 375149 747151 891154 003157 854160 753
¬¬ Industries (GFCF)223 056237 93759 55361 58963 17761 52066 317
¬¬¬ Services activities incidential to extraction (GFCF)4 7852 0522365081 0709181 707
¬¬¬ Other services (GFCF)131 832142 07036 53936 28037 94138 22638 079
¬¬¬ Manufacturing and mining (GFCF)31 26234 7318 1169 2288 3807 6288 623
¬¬¬ Production of other goods (GFCF)55 17759 08514 66215 57215 78614 74817 908
¬¬ Dwelling service (households) (GFCF)165 708184 82946 90148 73649 90351 18552 462
¬¬ General government (GFCF)151 858164 60943 29341 56740 92345 14941 973
Acquisitions less disposals of valuables3483668399969485
Changes in stocks and statistical discrepancies117 955162 99130 27741 48245 29440 96926 047
Gross capital formation859 716913 847220 198232 129236 759237 777222 521
 
Final domestic use of goods and services2 942 7063 090 118764 733784 791794 310801 231791 598
Final demand from Mainland Norway (excl. changes in stocks)2 623 6122 763 646694 282704 554711 553721 307729 829
Final demand from general government881 125922 180232 647235 887236 161240 826240 952
 
Total exports1 176 0781 064 050260 957280 003291 253287 169284 664
¬ Traditional goods (export)374 196355 72790 16986 50992 77895 38795 326
¬ Crude oil and natural gas (export)445 209373 37590 792104 047114 537109 713107 873
¬ Ships, oil platforms and aircraft (export)11 50817 3232 9159 1837 7132 8621 541
¬ Services (export)345 165317 62577 08180 26476 22679 20779 925
 
Total use of goods and services4 118 7844 154 1681 025 6911 064 7931 085 5631 088 4001 076 262
 
Total imports1 000 6681 037 136255 649262 901266 777272 408261 496
¬ Tradisjonelle varer (import)587 771593 783147 586150 097155 024158 552157 498
¬ Crude oil and natural gas (import)10 9088 6082 3121 9572 8703 4922 867
¬ Ships, oil platforms and aircraft (import)34 89545 44012 10812 74814 43111 8326 564
¬ Services (import)367 094389 30593 64398 09994 45298 53294 566
 
Gross domestic product, market values3 118 1163 117 032770 042801 892818 786815 991814 766
Gross domestic product Mainland Norway, market values2 621 0322 717 309678 837689 843693 511698 575702 979
 
Petroleum activities and ocean transport2497 084399 72391 205112 049125 274117 416111 787
Gross domestic product Mainland Norway, basic values2 278 4222 358 776589 345599 011601 565605 675609 138
¬ Mainland Norway excluding general government (GDP)1 711 8381 772 339442 963447 575450 055453 859455 015
¬¬ Manufacturing and mining (GDP)219 267215 26254 13053 66556 01756 45555 616
¬¬ Production of other goods (GDP)276 957318 78780 77683 97183 05983 78485 037
¬¬ Service activities (GDP)1 215 6141 238 290308 058309 939310 979313 620314 362
¬ General government (GDP)566 584586 437146 382151 436151 510151 816154 123
Taxes and subsidies products342 610358 53389 49190 83291 94692 90093 841

Table 6 
Final expenditure and gross domestic product. Seasonally adjusted figures. At constant 2015-prices. NOK million

Final expenditure and gross domestic product. Seasonally adjusted figures. At constant 2015-prices. NOK million1
201520163rd quarter 20164th quarter 20161st quarter 20172nd quarter 20173rd quarter 2017
1Figures from 2016 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs1 353 7231 374 069343 885346 096348 533351 095353 202
¬ Household final consumption expenditure1 281 1711 300 126325 255327 428329 692332 761334 598
¬¬ Goods592 469591 644147 440148 477149 014150 979151 584
¬¬ Services621 993641 144161 195162 051163 403164 397165 684
¬¬ Direct purchases abroad by resident households106 006109 81527 66827 46927 35228 11228 338
¬¬ Direct purchases by non-residents-39 297-42 477-11 049-10 570-10 078-10 727-11 008
¬ Final consumption expenditure of NPISHs72 55273 94318 63118 66818 84118 33418 604
Final consumption expenditure of general governmen729 267744 881186 767187 040188 012189 438190 353
¬ Final consumption expenditure of central government368 749377 10094 48494 43494 69295 37295 750
¬¬¬ Central government, civilian325 138333 55483 64883 59683 92284 62884 967
¬¬¬ Central government, defence43 61143 54610 83610 83810 77010 74410 783
¬ Final consumption expenditure of local government360 518367 78192 28392 60693 31994 06794 603
 
Gross fixed capital formation (GFCF)741 413739 701187 279187 636188 780191 676192 277
¬ Extraction and transport via pipelines (GFCF)201 658167 62441 90741 37441 39241 95339 831
¬ Ocean transport (GFCF)-867-1 698-490-767-1 374-605-545
¬ Mainland Norway (GFCF)540 622573 776145 862147 029148 762150 329152 991
¬¬ Industries (GFCF)223 056232 30558 04759 81861 21258 44063 226
¬¬¬ Services activities incidential to extraction (GFCF)4 7852 0102344981 0598961 733
¬¬¬ Other services (GFCF)131 832138 85935 63935 22636 75936 22436 248
¬¬¬ Manufacturing and mining (GFCF)31 26233 7947 8648 9168 1347 2558 123
¬¬¬ Production of other goods (GFCF)55 17757 64214 31115 17815 26014 06517 121
¬¬ Dwelling service (households) (GFCF)165 708180 68945 62946 90048 06348 94549 958
¬¬ General government (GFCF)151 858160 78342 18540 31039 48842 94439 807
Acquisitions less disposals of valuables3483588594949086
Changes in stocks and statistical discrepancies117 955162 29634 32239 09841 16336 71031 604
Gross capital formation859 716902 355221 601226 734229 944228 386223 881
 
Final domestic use of goods and services2 942 7063 021 304752 253759 870766 488768 920767 436
Final demand from Mainland Norway (excl. changes in stocks)2 623 6122 692 726676 514680 165685 307690 863696 546
Final demand from general government881 125905 663228 953227 351227 499232 382230 160
 
Total exports1 176 0781 154 865284 749292 172289 332295 357298 133
¬ Traditional goods (export)374 196343 69586 50680 97386 19087 50988 395
¬ Crude oil and natural gas (export)445 209464 491113 861118 170117 396122 007124 122
¬ Ships, oil platforms and aircraft (export)11 50816 7552 9239 0267 4252 8191 582
¬ Services (export)345 165329 92381 45984 00378 32183 02284 034
 
Total use of goods and services4 118 7844 176 1691 037 0031 052 0431 055 8211 064 2771 065 568
 
Total imports1 000 6681 024 020254 939258 750261 392260 788256 212
¬ Tradisjonelle varer (import)587 771585 418145 814147 672150 706150 518150 381
¬ Crude oil and natural gas (import)10 9089 7932 5641 9712 6353 4032 760
¬ Ships, oil platforms and aircraft (import)34 89544 12211 96412 18314 17311 2286 177
¬ Services (import)367 094384 68894 59796 92493 87795 63996 894
 
Gross domestic product, market values23 118 1163 152 149782 064793 293794 429803 490809 357
Gross domestic product Mainland Norway, market values22 621 0322 646 221661 964663 437667 769671 840675 729
 
Petroleum activities and ocean transport3497 084505 928120 100129 856126 660131 649133 627
Gross domestic product Mainland Norway, basic values2 278 4222 295 067574 150575 244578 773582 080585 243
¬ Mainland Norway excluding general government (GDP)1 711 8381 715 599428 907429 630432 167434 739437 644
¬¬ Manufacturing and mining (GDP)219 267210 21852 09152 09852 61852 73752 479
¬¬ Production of other goods (GDP)276 957284 35870 94471 45272 07072 69573 498
¬¬ Service activities (GDP)1 215 6141 221 024305 871306 081307 479309 307311 667
¬ General government (GDP)566 584579 468145 243145 613146 606147 341147 599
Taxes and subsidies products342 610351 15487 81488 19388 99689 76090 486

Table 7 
Final expenditure and gross domestic product. Seasonally adjusted figures. Percentage change in volume from the previous period.

Final expenditure and gross domestic product. Seasonally adjusted figures. Percentage change in volume from the previous period.1
201520163rd quarter 20164th quarter 20161st quarter 20172nd quarter 20173rd quarter 2017
1Figures from 2016 onwards are preliminary
2Gross domestic product is measured at market prices, while value added by industry is measured at basic prices.
3Includes oil and gas extraction, transport via pipelines and ocean transport.
Final consumption expenditure of households and NPISHs2.61.50.50.60.70.70.6
¬ Household final consumption expenditure2.31.50.50.70.70.90.6
¬¬ Goods1.2-0.1-0.20.70.41.30.4
¬¬ Services3.93.11.20.50.80.60.8
¬¬ Direct purchases abroad by resident households1.53.61.8-0.7-0.42.80.8
¬¬ Direct purchases by non-residents9.88.13.9-4.3-4.76.42.6
¬ Final consumption expenditure of NPISHs9.01.9-0.70.20.9-2.71.5
Final consumption expenditure of general governmen2.42.10.30.10.50.80.5
¬ Final consumption expenditure of central government3.12.30.3-0.10.30.70.4
¬¬¬ Central government, civilian3.12.60.4-0.10.40.80.4
¬¬¬ Central government, defence3.5-0.1-0.70.0-0.6-0.20.4
¬ Final consumption expenditure of local government1.62.00.30.30.80.80.6
 
Gross fixed capital formation (GFCF)-4.0-0.22.60.20.61.50.3
¬ Extraction and transport via pipelines (GFCF)-12.2-16.90.3-1.30.01.4-5.1
¬ Ocean transport (GFCF)..............
¬ Mainland Norway (GFCF)-0.26.13.10.81.21.11.8
¬¬ Industries (GFCF)-2.84.10.63.12.3-4.58.2
¬¬¬ Services activities incidential to extraction (GFCF)3.8-58.0-39.6113.0112.6-15.493.4
¬¬¬ Other services (GFCF)-5.15.30.9-1.24.4-1.50.1
¬¬¬ Manufacturing and mining (GFCF)-11.98.1-5.913.4-8.8-10.812.0
¬¬¬ Production of other goods (GFCF)9.54.55.16.10.5-7.821.7
¬¬ Dwelling service (households) (GFCF)3.29.02.82.82.51.82.1
¬¬ General government (GFCF)0.25.97.1-4.4-2.08.8-7.3
Acquisitions less disposals of valuables-14.12.8-7.710.60.4-4.2-4.9
Changes in stocks and statistical discrepancies-0.337.6-19.513.95.3-10.8-13.9
Gross capital formation-3.45.0-1.62.31.4-0.7-2.0
 
Final domestic use of goods and services0.72.7-0.21.00.90.3-0.2
Final demand from Mainland Norway (excl. changes in stocks)2.02.61.00.50.80.80.8
Final demand from general government2.02.81.5-0.70.12.1-1.0
 
Total exports4.7-1.8-0.52.6-1.02.10.9
¬ Traditional goods (export)6.9-8.2-1.2-6.46.41.51.0
¬ Crude oil and natural gas (export)2.14.3-0.83.8-0.73.91.7
¬ Ships, oil platforms and aircraft (export)0.045.66.8208.8-17.7-62.0-43.9
¬ Services (export)7.1-4.40.43.1-6.86.01.2
 
Total use of goods and services1.91.4-0.31.50.40.80.1
 
Total imports1.62.31.01.51.0-0.2-1.8
¬ Tradisjonelle varer (import)3.2-0.41.21.32.1-0.1-0.1
¬ Crude oil and natural gas (import)-0.1-10.214.0-23.133.729.1-18.9
¬ Ships, oil platforms and aircraft (import)-6.726.411.71.816.3-20.8-45.0
¬ Services (import)0.14.8-0.82.5-3.11.91.3
 
Gross domestic product, market values22.01.1-0.71.40.11.10.7
Gross domestic product Mainland Norway, market values21.41.00.10.20.70.60.6
 
Petroleum activities and ocean transport34.31.8-4.78.1-2.53.91.5
Gross domestic product Mainland Norway, basic values1.30.70.10.20.60.60.5
¬ Mainland Norway excluding general government (GDP)0.90.20.00.20.60.60.7
¬¬ Manufacturing and mining (GDP)-4.6-4.1-1.10.01.00.2-0.5
¬¬ Production of other goods (GDP)0.92.70.50.70.90.91.1
¬¬ Service activities (GDP)2.00.40.10.10.50.60.8
¬ General government (GDP)2.32.30.50.30.70.50.2
Taxes and subsidies products2.32.5-0.20.40.90.90.8

Table 8 
Revised figures of final expenditure and gross domestic product. Percentage change in volume

Revised figures of final expenditure and gross domestic product. Percentage change in volume
 3 rd quarter 20164 th quarter 20161 st quarter 20172nd quarter 2017
 Seasonally adjusted figuresUnadjusted figuresSeasonally adjusted figuresUnadjusted figuresSeasonally adjusted figuresUnadjusted figuresSeasonally adjusted figuresUnadjusted figures
 Percentage change in volume from the previous periodPercentage change in volume from the same period in the previous yearPercentage change in volume from the previous periodPercentage change in volume from the same period in the previous yearPercentage change in volume from the previous periodPercentage change in volume from the same period in the previous yearPercentage change in volume from the previous periodPercentage change in volume from the same period in the previous year
 New resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer resultNew resultFormer result
Gross domestic product (GDP)-0.7-0.5-0.7-0.61.41.31.61.60.10.22.52.51.11.10.10.2
GDP Mainland Norway0.10.10.80.90.20.30.90.90.70.72.93.00.60.7-0.2-0.2
Household final consumtion expenditure0.50.51.21.20.70.81.21.10.70.62.02.00.91.21.92.1
Final consumption of general government0.30.22.02.40.10.22.92.20.50.81.71.90.80.41.71.6
Gross fixed capital formation2.64.02.72.70.2-1.02.12.10.6-0.64.23.81.53.24.65.5
Exports-0.51.3-5.1-5.12.61.2-1.8-1.8-1.0-0.90.31.02.11.02.01.5
Imports1.02.54.24.21.50.51.41.41.04.33.28.2-0.2-0.41.44.5

About the statistics

The national accounts provide an overview of the state and development in the Norwegian economy. Key figures are gross national product (GDP), consumption, gross investment, exports and imports, employment and wages, profitability in industries and productivity.

Definitions

Definitions of the main concepts and variables

In the QNA, as in the annual NA, all aggregates are defined according to international standards. See Concepts and definitions in national accounts for definitions and explanations of concepts and variables used in the national accounts.

Standard classifications

The classifications used in the QNA are the same as in the annual NA. However, the level of detail used in the QNA is more aggregated. This means that the classifications used in the QNA, like the classifications used in the annual NA, follows the recommendations in the international standards 2008 SNA and ESA 2010:

  • The activity classification is based on the Norwegian Standard Industrial Classification (SN2007), which is an elaboration of the EU standard NACE Rev.2. This European standard is identical with ISIC Rev.4 at the aggregated level, which is the common international standard. Industries in the National Accounts
  • The product classification is based on the EU’s central product classification CPA (Statistical Classification of Products by Activity in the European Community).
  • Final consumption expenditure is classified by purpose: Consumption by households by COICOP.  Consumption expenditure groups in the National Accounts
  • Consumption by NPISHs are classified by COPNI.
  • Consumption by general government by COFOG.
  • Gross fixed capital formation is cross-classified by industry and type of capital good.

Administrative information

Name and topic

Name: National accounts
Topic: National accounts and business cycles

Next release

Responsible division

Division for National Accounts

Regional level

National level.

Frequency and timeliness

The quarterly national accounts (QNA) are published about 45-50 days after the end of the given quarter. The accounts for the first quarter of the current year are published in May, together with revised figures for the previous year. Figures for the second quarter are published in August/September, together with revised figures for the first quarter and revised figures for the past two years. In this publication, the results for year t-2 are considered final. This update of previous years was earlier carried out in November. In November, the first figures for the third quarter are published together with revised figures for the first and second quarter Finally, figures for the fourth quarter are published in February the following year, together with revised figures for the first, second and third quarter.

The methods and calculating system used to calculate the QNA are also used to compile preliminary versions of the annual national accounts. The first versions of the annual accounts are compiled by simply adding up the four quarters of the ordinary QNA. In the next preliminary versions, annual statistics and other information available at the time are also utilised. The third annual version of the national accounts then remains unchanged in one year until final figures are compiled based on detailed annual statistics and methods for compilation of annual national accounts for publishing in August/September one year later.

 

 

International reporting

Published figures are reported to Eurostat, the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD) and the United Nations (UN).

Microdata

Not relevant

Background

Background and purpose

The national accounts (NA) statistics are designed to provide a consistent and comprehensive survey of the overall national economy. The national accounts give both a summarised description of the economy as a whole and a detailed description of transactions between different parts of the Norwegian economy, and between Norway and the rest of the world. The national accounts also provide information on capital stocks and employment.

Final annual national accounts figures are based on all available final economic statistics and therefore take time to produce. The purpose of the quarterly national accounts is to provide updated information about short-term developments in the Norwegian economy based on an overall, consistent accounting system.

The first Norwegian national accounts based on modern principles were published by Statistics Norway in 1952, while quarterly national accounts (QNA) were produced and released on a regular basis from 1953. Later on, the Norwegian national accounts have been extended and adapted in line with new international guidelines. A main revision of the annual national accounts implementing 1968 SNA was carried out in the 1970s. As a result, the QNA were not published at fixed intervals from the 1970s to the beginning of the 1980s. A new model for a QNA system was developed at the beginning of the 1980s and has been used since 1985, with some modifications.

National accounts are used as a tool to compare the economic situation in different countries, and therefore it is important that the national accounts in various countries are based on a common template. From time to time adaptations or changes are made to the common international recommendations for national accounts. This requires corresponding changes in the construction of the Norwegian national accounts. At different time intervals, new source statistics are produced and indicate that parts of the national accounts figures need to be revised. Since one objective of the national accounts is to provide a picture of the development over time which is as correct as possible, it is not possible to introduce such changes from one year to another. With different time intervals, it will therefore be necessary to carry out major revisions of the national accounts figures, so-called main revisions, in order to introduce adaptations due to new international recommendations or introduce new levels based on new statistical sources. As part of these main revisions the time series are also revised so that the revised national accounts can give a consistent picture of the economic development over time.

In recent decades, Statistics Norway has carried out main revisions published in 1995, 2002, 2006, 2011 and 2014. The main purpose of main revision published in November 2014, was to incorporate updated international recommendations in 2008 SNA and ESA 2010. Changes due to this main revision are described, among else, in the article Main revision 2014. Planned changes in the national accounts statistics. See About the statistics for the annual national accounts for more information about main revisions. The publication History of national accounts in Norway. From free research to statistics regulated by law also provides more information about the history of national accounts in Norway, including main revisions. In the future main revisions of the national accounts normally will be carried out every five years.

Since the QNA are completely harmonised with the annual national accounts, it is also necessary to revise the QNA figures once the annual national accounts figures have been revised.

Users and applications

The quarterly figures are mostly used for observation and analysis of the current economic cycle. The QNA figures also serve as a basis for making forecasts of the future economic development, the government’s work with the national budget and other economic planning. In addition,the QNA contribute with material for research and development. The QNA therefore have a wide group of users, from school pupils and students to public and private institutions that actively use the statistics in their analyses and investigation of economic development. Active users include the Research Department in Statistics Norway, the Ministry of Finance, Norges Bank, international organisations such as the IMF, the OECD, the World Bank, the UN and Eurostat, resident and non-resident financial sector analysts, and the media.

Equal treatment of users

No external users have access to the statistics and analyses before they are published and accessible simultaneously for all users on ssb.no at 08.00 am. Prior to this, a minimum of three months' advance notice is given in the Statistics Release Calendar. This is one of Statistics Norway’s key principles for ensuring that all users are treated equally.

Coherence with other statistics

The Norwegian Balance of Payments (BOP) is an integrated system in the Norwegian system of national accounts, and the BOP figures are fully consistent with other QNA figures. Furthermore, quarterly national accounts (QNA) figures are fully consistent and compatible with the annual NA and therefore also consistent with the institutional sector accounts. The regional national accounts, and various satellite accounts (environment, tourism, health,non-profit institutions) and are consistent with the above mentioned national accounts statistics.Previous published figures from the regional accounts and various sattellite accounts are, however, not revised as a part of main revision of the national accounts, so figures for previous years may not necessarily be compatible with updated NA time series.

Legal authority

Not relevant

EEA reference

  • Regulation (EU) No 549/2013 (ESA 2010).
  • The European Parliament and of the council of 21 May 2013 on the European system of national and regional accounts in the European Union (text with EEA relevance).

Production

Population

The coverage of the national accounts is defined by international guidelines in the 2008 System of National Accounts (2008 SNA), published by the UN, the OECD, the IMF, the World Bank, and the Commission of the European Communities, and the European System of National and Regional Accounts (ESA 2010).

The total national economy, and the distinction between the national economy and foreign countries, is defined in terms of resident units. A unit is defined as a resident unit of the country when it has a centre of economic interest in the economic territory of the country - i.e. when it is involved in economic activities on this territory for an extended period of time (one year or more).

Two basic types of information are recorded in the national accounts: flows and stocks. Flows refer to actions and effects of events that take place within a given period of time, for example the output of an industry in one year. Stocks refer to positions at a certain point of time, for example the value of capital stock or the number of employed persons.

The national accounts comprise two basic statistical units: institutional units and local kind-of-activity units (establishments). Institutional units are economic entities that are capable of owning goods and assets, of incurring liabilities and of engaging in economic activities and transactions with other units in their own right. An institutional unit contains one or more local kind-of-activity units (local KAUs). The local KAUs are classified by type of activity. An activity is characterised by an input of products, a production process and an output of products. All local KAUs engaged in the same or similar kind-of-activity constitute an industry.

The national accounts consist of two main sets of tables; supply and use tables (SUT), also described as the real accounts, and institutional sector accounts. The real accounts are based on local kind-of-activity units, while the institutional sector accounts are based on institutional units. This description of the national accounts covers the part of the national accounts that is based on the annual SUT (the real accounts).

The SUT at current and constant prices gives a structured overview of the supply and use of products (goods and services) in the economy. Information on fixed assets is also included, as well as wages, hours worked, full-time equivalent persons and employed persons by industry. The coverage of the quarterly national accounts (QNA) is the same as the annual SUT: As is the case for the annual national accounts, the QNA contain national aggregates and consist of supply and use tables at current and constant prices. In addition, the QNA system also produces tables with seasonal adjusted figures for industries' value added, household consumption for aggregated consumption groups and for central macroeconomic measures.

The accounting structure of the QNA is, however, more aggregated than in the annual SUT. While the SUT in the annual accounts consist of about 130 industry groups and  700 product groups, the SUT in the quarterly national accounts consist of about 60 industry groups and 80 product groups.

A quarterly version of the annual institutional sector accounts based on institutional units is also compiled. At the moment it only covers household units, see About the statistics for the quarterly institutional sector accounts.

Data sources and sampling

The compilation of the QNA implies the use of final annual national accounts data and comprehensive input data sets. These data series are mainly based on short-term statistics from Statistics Norway. In addition, some short-term information from other sources is used. The most central sources are:

  • Index of production for oil and gas extraction, mining and quarrying, manufacturing, electricity and gas supply
  • Production index, construction
  • Index of retail sales
  • Turnover index for accommodation and transport activities
  • Turnover index for real estate, renting and business activities
  • Financial reports from banks (used to calculate the output of banking services, including FISIM)
  • Quarterly investment statistics for manufacturing, mining and quarrying and electricity supply
  • Building statistics
  • KOSTRA (Municipality-State-Reporting)
  • Central government fiscal account, revenues and expenditures
  • Specialist health service, accounts
  • External trade in goods (volume and price indices)
  • Reporting of exports and imports of trade in services: Survey of Norwegian non-financial companies economic relations with other countries
  • Consumer price index
  • Producer price index, manufacturing
  • Producer price indices for various services: freight transport by road, sea transport, renting of automobiles, architectural activities, computer consultancy, industrial cleaning services
  • Labour Force Survey (LFS)
  • Wage statistics and wage indices
  • In addition, the system is based on various indicators such as accommodation statistics (guest nights in hotels, camping sites, etc), passenger statistics (by air, railway, the Coastal Express Liner Bergen-Kirkenes), harbour statistics, road goods transport.

Collection of data, editing and estimations

The majority of the short-term statistics produced by Statistics Norway are transferred to the QNA system by use of a direct link to the relevant databases. The information in the data sources about growth is used more or less directly in the QNA system. Some other input data series in the QNA system, however, are based more or less on calculations and estimations based on various types of information from Statistics Norway and other bodies.

The national accounts data for a specific quarter or a specific year are revised in accordance with an ordinary publication and revision cycle. The quarterly figures within a specific year t have the status final 23 months after the end of the year. In addition, periodical main revisions give revised figures.

In the process of calculating QNA figures for a specific quarter, the short-term statistics source data are critically evaluated and compared with alternative sources (for some parts of the economy). In some cases, the information in the source statistics must be adjusted in order to satisfy the requirements of the quarterly national accounts. In the process to estimate QNA data estimated QNA figures are critically evaluated and controlled in many steps.

Quarterly process

The figure below gives an overview of the Norwegian QNA estimation process. The figure shows that the QNA system is based on two main pillars: a) The SUT for the (final) annual national accounts and b) short-term statistics.

Figure. The computing system in the Norwegian QNA

knr1-en

The main principle in the QNA system is that the national accounts figures for the current quarter are computed based on the development of short-term indicators and the current-price figures from the base year. The base year (t-2) is the latest calculated final version of the annual national accounts. The method is the same for most common variables: The value in the base year is given the same growth rate (percentage change) as in the appropriate indicator, or a grouping of different relevant indicators.

The most typical and simple equation on a quarterly basis is:

knr2_en

Where footnote

T

indicates the base year

t

indicates the current accounting year

K

indicates the current accounting quarter

Variables:

X t,k

Calculated value in quarter k for year t

X T

Total value in the base year

I t,k

The indicator value in quarter k

k t,k

Variable for adjustment, when no adjustment k t,k =1

(I t,k /∑ k I T,k ) expresses the development in the indicator from the base year to the specific quarter. The level is about 1/4, because the indicator value in the quarter is related to the sum of the indicator values in the base year. The value in the base year for the variable X T is given the same percentage change as the indicator (or adjusted with the adjustment factor k t,k ) and this gives the calculated quarter value of the variable X t,k . If it is decided that there should be no adjustment after the evaluation of the results, the value of the adjustment variable will be 1.

A simple projection method, based on the development in previous periods, is used if an indicator does not cover the whole period from the base year to the current quarter.

The indicator compilations are made in the indicator process (box 2 in the figure).

However, the indicator process alone does not give a complete harmonised account at current and constant prices. To calculate values for variables that are not calculated in the indicator compilations, and to harmonise the accounts, we use an input-output model (box 3 in the figure).

The input-output model includes a commodity-flow balance, a price input-output system and a set of equations for summaries and definitions. It now comprises over 12 000 equations in total. The input-output coefficients are calculated from the SUT in the base year. The variables calculated in the indicator compilations are transferred to the input-output model as exogenous variables. To calculate balanced accounts at current prices we need price indices on all supply and use categories. These are computed in the model by weighting together product price indices with the input-output coefficients as weights. Each product gets three different price indices, one for resident output delivered to the home market (to resident users), a second for import and a third for export.

The price index for an industry’s total output is then calculated as a weighted average of the price indices for the home and export market using the input-output coefficients as weights. The price indices of intermediate consumption, final consumption expenditure and gross fixed capital formation are calculated in a similar way, using the import and home market price indices and the input-output coefficients.

The model also calculates variables which are not covered by short-term statistics or other information and therefore not calculated in the indicator process. These calculations are based on simple assumptions. For instance, intermediate consumption for most industries at constant prices (the total except FISIM) is assumed to be a fixed proportion of total output for the relevant industry. The distribution of intermediate consumption (except FISIM) on different products at constant prices is also assumed to be the same as in the base year. The industries’ use of FISIM as intermediate consumption is supposed to equal the growth in total output of FISIM services. Output in the retail and wholesale trade activities in constant prices is assumed to follow the development of the use of the various goods in constant prices, such as household consumption, intermediate consumption and gross fixed capital formation of the various specific goods (that means supposed fixed margins).

Changes in stock of separate products are (for most products) calculated as the difference between the total supply and use of the product. As in the annual NA, the changes in stock may be adjusted if that seems reasonable after an evaluation of the figures.

The results are stored in the time series database (box 4 in the figure), which, among other things, provides the basis for different sets of tables (box 6). At the moment there are two different sets of tables (with seasonal unadjusted figures), sets for internal checks and analyses of data and more aggregated sets of data for publishing.

Process 1-4 describes how the quarterly seasonally unadjusted figures are estimated. The unadjusted figures are seasonally adjusted (box 5) using a seasonal adjustment program.

The method adopted to compile the QNA is highly mechanical. This applies to the update of variables in the national accounts based on short-term statistics as well as the balancing of commodities, the computation of indirect taxes and factor incomes and the overall balancing of the GDP and main aggregates. Technically, the data systems are programmed in FAME and TROLL (the latter is used for the input-output model only).

Checks and/or the evaluation of data are performed in several steps. The input data are evaluated (from box 1b), followed by an evaluation of quarterly national accounts output data. Steps 2-6 are carried out several times before the data are published and the output data are evaluated every time. The QNA system offers a unique opportunity to compare different types of input data: The system for instance shows how supply conforms to use (in total or for certain relevant groups of products). The evaluation of the different sources is done in close contact with the relevant statistics divisions in Statistics Norway.

Annual process and alignment

The QNA system is updated with a new base year every year (i.e. the latest final version of the annual accounts). The database for the annual accounts (box 1a), as well as the base data and coefficients in the harmonisation model (box 3) are updated. At the same time, it is possible to implement new indicators, carry out changes in the input series and in the model, etc. Such changes are not carried out in an ordinary quarterly process.

The recalculation of the quarterly accounts is carried out by distributing the annual figures between the quarters using the original quarterly figures as keys. The recalculated quarterly accounts will then add up to the annual accounts at constant and current prices.

The harmonisation is based on the principle that the differences between the quarterly changes to the original and harmonised series shall be as small as possible. The quarterly accounts should add up to the figures in the annual accounts.

When the base year is updated the QNA for that year is aligned automatically.

Reference year

All figures are published at current prices and (for most sizes) constant prices (i.e. the accounts also specify volume and price changes). Constant-price estimates in the national accounts are calculated based on the previous year's prices; i.e. the base year is changed every year. Subsequently, data on volume changes are constructed in terms of growth rates and corresponding implicit data on changes in prices. In parallel, time series of volume figures are constructed by using prices from a reference year. The constant-price estimates are consistent with the data on changes in volume in the series of growth rates. Since the chaining is carried out separately for all items, the table components do, however, not necessarily add up to the totals of the same table.

The publication Quarterly national accounts gives more information about sources, methods and the processes used to calculate quaterly NA figures.

 

Seasonal adjustment

The quarterly national accounts figures may be influenced by different weather conditions, holidays, etc. The effects of conditions that are repeated at the same time every year are referred to as seasonal effects, while effects that are directly connected to changes in the calendar from one year to another are referred to as calendar effects. The increase in household consumption of goods in December is an example of a seasonal effect, while the number of working days in each quarter is a calendar effect. Incidental happenings such as a strike or a production stoppage may also affect the figures. The seasonal adjustment program is supposed to recognise and adjust the figures to seasonal effects and calendar effects, but not incidental effects. In cases where Statistics Norway has information on strikes or other incidental happenings that are assumed to have effect on the figures, these incidents are mentioned when the figures are published.

See About seasonal adjustment for more information about methods and routines used to calculate seasonal adjusted figures.

Confidentiality

§ 2-6 of the Statistics Act states that data under no circumstances shall be published in such a way that they may be traced back to the supplier. This means that the general rule is not to publish data if there are fewer than three enterprises in an industry. In practice, this means that for some detailed industry categories, figures must be aggregated up to a more aggregated industry group before they can be published.

Comparability over time and space

Consistent quarterly time series will exist back to 1978 and annual time series back to 1970. Annual NA figures for the years 1865-1970 are based on the previous standards used for the national accounts and are not compatible with the up to date figures after the latest main revision of the NA.

Accuracy and reliability

Sources of error and uncertainty

Measurement and processing errors may occur when the QNA data source is produced as well as when the QNA figures based on this source are produced.

The various sources of error and uncertainty in the QNA can be divided into four main groups:

A. Missing or incomplete data sources for parts of the economy: One important source of uncertainty is missing or incomplete data series for the development of parts of the economy.  For instance there are:

  • lack of information on the development of intermediate consumption in most industries.
  • information is missing on gross fixed capital formation in machinery and equipment in all service activities except service activities produced by governments.
  • the statistical information on household consumption of various services is not up to date.

B. Relevance in relation to the use of a data source as an indicator in the QNA system. Here, relevance means that a statistical source may not be perfectly suitable as an indicator for the variable it is used for, but it is used because more appropriate indicators are lacking. The source data may for instance not cover the economic field that the QNA variable is supposed to cover; there may be differences between the source data and the QNA with regard to variable definitions, etc).

C. Uncertainty or errors in the QNA data sources: This includes sampling errors, errors connected to the determination of the population, processing errors, measurement errors, non-response errors and/or model errors in each of the statistical sources used in the QNA.

 D. Measurement errors, processing errors and/or model errors in the process of compiling the QNA data.

When it comes to expressing the overall uncertainty in the QNA with an explicit statistical variable such as variance, standard deviation or confidence interval, this is not possible. For some of the statistical sources, statistical uncertainty for some of the errors listed above (point C) may be calculated in theory. In practice, these calculations have not yet been done for most of the statistical sources.

Since the quarterly national accounts and the annual national accounts are an integrated system with balancing methods and consistency checks, there is reason to believe that annual and quarterly national accounts may reduce some of the inaccuracies in the statistical sources. On the other hand, the national accounts require the production of statistics in areas where the sources are unsatisfactory (point A and B), and the inaccuracy in such areas may therefore be significant. In addition, some measurement errors, processing errors and/or model errors may occur in the compilation process of QNA figures.

As stated earlier, the annual national accounts are one of the main pillars in the QNA. Thus, errors and uncertainty in the annual accounts figures will also affect QNA figures. The EU Commission and Eurostat have completed a quality evaluation of the annual national accounts in all EEA countries. The conclusion was that the ( annual ) Norwegian national accounts are of a high quality, soundly based on reliable and exhaustive sources, integrated in a system with a detailed product breakdown (Report on the sources and methods used in compiling GNP in Norway, Eurostat/B1/CPNB/237/EN, 9 December 1997, Luxembourg).

The International Monetary Fund (IMF) carried out an evaluation of central parts of Norwegian macroeconomic statistics in autumn 2002, including the Norwegian quarterly national accounts. In the report, (IMF, 2003), the Norwegian macroeconomic statistics, including national accounts got positive reviews: "In summary, Norway's macroeconomic statistics are of generally high quality." About the national accounts, the IMF also expressed that : "The source data for both the annual and the quarterly national accounts are generally sound and timely, and sufficiently portray reality."

In 2003, Statistics Norway carried out a project to evaluate the quality of the Norwegian QNA. The task of the project was to describe the different processes in the system, evaluate the different processes and set up a plan for further work to improve quality. A project report was released in April 2004 (in Norwegian only). The report lists a variety of measures to increase quality, such as changes in the organisation of the QNA process, technical changes in the data system, an increase and improvement of the documentation related to the QNA system etc.

Another way of measuring the general quality of the quarterly national accounts is to compare the preliminary annual figures from the first version of the annual accounts (by adding up the quarters in the QNA) with the final version. This was done in 2004. The article (in Norwegian only) looks at the growth rates of the main aggregates: GDP, GDP for mainland Norway, household consumption, government consumption, gross fixed capital formation, exports, imports and compensation of employees. For most variables, the study covers the years 1972-2002, while for some variables it covers the years 1993-2002. The study concludes that the preliminary figures generally had underestimated the growth rate in relation to the final figures, but that the overall picture did not differ too much.

Revision

The national accounts data for a specific quarter or a specific year are revised in accordance with an ordinary publication and revision cycle. The quarterly figures within a specific year t have the status final 21 months after the end of the year (previously 23 months). See Administrative information, Frequency and timeliness. In addition, periodical main revisions give revised figures. See Background and purpose.

Publication cycle for quarterly national accounts figures

Release date in:

 1st quarter year t

2nd quarter year t

3rd quarter year t

4th quarter year t

May, year t

First preliminary version

Revised 3 for year t-1

Revised 2 for year t-1

Revised 1 for year t-1

Aug/Sept., year t

Revised 1

Revised 5 for year t-1

Finally for year t-2

First preliminary version

Revised 4 for year t-1

Finally for year t-2

Revised 3 for year t-1

Finally for year t-2

Revised 2 for year t-1

Finally for year t-2

November, year t

Revised 2

Revised 1

First preliminary version

Revised 3 for year t-1

February, year t

Revised 3 for year t-1

Revised 2 for year t-1

Revised 1

First preliminary version for year t-1

About seasonal adjustment

General information on seasonal adjustment

What is seasonal adjustment?

Monthly and quarterly time series are often characterised by considerable seasonal variations, which might complicate inter-period comparability. Such time series are therefore subjected to a process of seasonal adjustment in order to remove the effects of seasonal fluctuations. Once data have been adjusted for seasonal effects by X-12-ARIMA or some other seasonal adjustment tool, a clearer picture of the time series emerge.

For more information on seasonal adjustment, please refer to Statistics Norway’s: metadata on methods: seasonal adjustment .

Why seasonally adjust these statistics?

Because of climatic conditions, public holidays and holidays in July and December, the intensity of the production varies throughout the year. The same applies to household consumption and other parts of the economy.

This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, the quarterly national accounts are seasonally adjusted which makes it possible to conduct an analysis of the underlying change in economic activity between periods.

It is important to mention some factors of the seasonally adjustment of the QNA which has to be given specific attention compared to other short time economic indicators:

  • The series for the main aggregates in the QNA is a result of aggregation of many components where the properties of the components are not homogenous.
  • Statistics Norway has chosen that consistency between the components and the main aggregates also applies to the seasonally adjusted series to make it easy to identify which series contribute the most to the results.
  • In many cases it may be difficult to identify the seasonal-/calendar effects. This is a general phenomenon for quarterly series – especially when the series cover the whole country.
  • The QNA-series are often estimated through monthly economic indicators. It is important that the results of the seasonal adjustments are fairly similar.

All of these factors lead to larger flexibility and variation in the methods and routines for the seasonal adjustment of QNA-series than what is common for other statistics.

New method from the 3rd quarter of 2011.

From the 3rd quarter of 2011 QNA was published according to the new standard for industrial classification. We used this opportunity to change some routines regarding seasonal adjustment to ease the dissemination of constant price figures. In addition, there has been a significant reduction in the number of seasonally adjusted time series.

Background information

  • The QNA uses the final national accounts year as the base year for calculating “new” quarters. This means for example that when we use 2009 as the base year in November, it will be used to calculate the quarterly figures at constant prices for all quarters from the 1st quarter of 2010 to the 2nd quarter of 2012. When we calculate the 3rd quarter of 2012, the base year will be changed to 2010, and the quarters in 2011 and 2012 will be updated to the new base year.
  • For all quarters compiled on the basis of the base year, we have figures that are additive. That means that we can add together individual series in constant prices to get the correct aggregate.
  • The annual accounts always have t-1 as the base year, and this is the reference to calculate volume growth.
  • The annual growth rates estimated at t-1 prices will be kept and therefore we chain growth rates in the prices of the reference year (which is the current base year in the QNA).
  • Chaining is done on all levels and this means that additivity no longer applies. Thus, we can not add together figures for value added at constant prices and get the GDP at constant prices for quarters that are “older” than the base year.
  • The quarterly figures are always benchmarked against the annual figures. The QNA are updated with a new base year every year (i.e. the latest final version of the annual accounts). Every time we change base year (reference year), the recalculation of the quarterly accounts is carried out by distributing the annual figures between the quarters using the original quarterly figures as keys. The recalculated quarterly accounts will then add up to the annual accounts at constant and current prices. The harmonisation is based on the principle that the differences between the quarterly changes to the original and harmonised series shall be as small as possible. The quarterly accounts should add up to the figures in the annual accounts.
  • Chaining in the QNA is done every year and the further we are from the reference price year, the greater the so-called chaining effect will be.
  • To seasonally adjust the GDP (and all other aggregates) we used an indirect method. This is done in order to be able to explain the contributions to GDP-growth, and consensus is that this is the preferred method for this kind of data. Please see chapter below for more details on the direct vs. indirect approach to seasonal adjustment.
  • This method has given us some challenges related to the seasonally adjusted historical series. The reason is that series older than the base year are not additive. Longer seasonally adjusted time series have been requested by many external users and the lack of additivity has led us to change the seasonal adjustment method, see below.

Changes in method

The new method for seasonal adjustment of QNA figures address:

  • Level differences between the unadjusted and seasonally adjusted data due to chaining method when a new base year is established
  • Changes in seasonal patterns when the QNA series are benchmarked against the final annual accounts and the reference year is replaced.

We apply the indirect method on the individual series and then sum the series to its respective aggregate, but the period of revision is limited from the year before the base year to the present (where the figures are additive). For the years preceding the base year we keep the figures calculated from the direct seasonal adjustment approach. This means that the seasonal adjusted time series for QNA are kept constant from 1978 to the base year.

When a new base year is established, and the time series are updated, we use identical seasonal adjustment factors as before. This means that changes in seasonally adjusted data are only due to changes in the unadjusted data.

Note that we use information from the entire period of the time series to estimate seasonal adjustment factors, but we use this information only from the year before the base year to the present.

For certain aggregates the use of the indirect and direct approach will yield different results and thus the new time series may portray a different path than previously published figures.

The method chosen is in accordance with the ESS-Guidelines on seasonal adjustment .

Special Cases

Because of the large discrepancy between the old and the new method, some series have been specially treated. This is series for gross domestic product at market and basic prices. These series are first adjusted indirectly for the whole period 1978-2008 and afterwards the seasonal factors have been normalized so that both the unadjusted and adjusted series have the same annual level.

Seasonally adjusted series

Several hundred series are seasonally adjusted every quarter. The series are adjusted at a disaggregated level and then summed up to the main aggregates.

The series for gross value added are adjusted directly, as apposed to being calculated as the difference between production and intermediate consumption.

For final consumption expenditure of households, the series are seasonally adjusted by applying the seasonal factors that are estimated for the index of household consumption of goods (see the documentation for seasonal adjustment of the index of household consumption of goods).

The following tables give an indication of the seasonal patterns for the most important macroeconomic main aggregates. The first table shows the estimated correction factors for 2014 based on prior data by direct adjustment with X-12-ARIMA. The actual factors however will not be identical since they are estimated again when new data are available. The second table shows the means of the actual seasonal factors for the period 2007-2013 as a result of indirect adjustment of many series.

  seasonal_factors

The results show that the activity in the Norwegian economy systematically is highest in the 4th quarter. We also see that the activity is lowest in the 1st quarter for most of the main series except for total exports and gross domestic product where the lowest values are found in the 3rd quarter. Another important feature is that the tables show that the expected seasonal correction factors for 2014 match the actual seasonal factors in the previous years quite well. This implies that applying a direct or an indirect method for adjusting the main aggregates does not influence the results considerably. 

Pre-treatment

Pre-treatment routines/schemes

Pre-treatment is an adjustment for variations caused by calendar effects and outliers.

  • Running a detailed pre-treatment of some series/main series. The remaining series are treated by using standard options in the seasonal adjustment tools.

Comments : The series for final consumption expenditure are seasonally adjusted based on monthly series from the index of household consumption of goods.

Calendar adjustment

Calendar adjustment involves adjusting for the effects of working days/trading days and for moving holidays. Working days/trading days adjustments are made for both the number of working days/trading days and for the varying composition of days from one month to another.

  • It is performed calendar adjustments on all series showing significant and plausible calendar effects within a statistically robust approach, such as regression or RegARIMA (a regression model with an ARIMA structure for the residuals).

Methods for trading/working day adjustment

  • RegARIMA correction – in this case, the effect of trading days is estimated in a RegArima framework. The effect of trading days can be estimated by using a correction for the length of the month or leap year, regressing the series on the number of working days, etc. In this case, the residuals will have an ARIMA structure.

Correction for moving holidays

  • Automatic correction. If performed by X-12-ARIMA, automatic correction of raw data will be based on US holidays.

Comments : Except for final consumption expenditure for households where the Norwegian calendar is used.

National and EU/euro area calendars

  • Use of default calendars. The default in X-12-ARIMA is the US calendar.

Comments : Final consumption expenditure for households uses the Norwegian calendar.

Treatment of outliers

Outliers, or extreme values, are abnormal values of the series

  • Outliers are detected automatically by the seasonal adjustment tool. The outliers are removed before seasonal adjustment is carried out, and then reintroduced into the seasonally adjusted data.

Model selection

Pre-treatment requires choosing an ARIMA model, as well as deciding whether the data should be log-transformed or not.

  • Model selection is primarily automatic, but in some cases models are selected manually

Comments : Manual model selections take place when X-12-ARIMA rejects the five alternative models that are automatically tested. In these cases the so-called airlines model is chosen: (0, 0, 1)(0, 0, 1)

Decomposition scheme

The decomposition scheme specifies how the various components – basically trend-cycle, seasonal and irregular – combine to form the original series. The most frequently used decomposition schemes are the multiplicative, additive or log additive.

  • Manual decomposition scheme selection after graphical inspection of the series.

Comments : Additive decomposition is used for series with negative values, otherwise multiplicative decomposition is used.

Seasonal adjustment

Choice of seasonal adjustment approach

  • X-12-ARIMA

Consistency between raw and seasonally adjusted data

In some series, consistency between raw and seasonally adjusted series is imposed.

  • No constraints are applied.

Comments : Seasonally adjusted series in the QNA are not required to sum up to the annual raw figures. Nevertheless we choose to publish identical annual figures of unadjusted and seasonally adjusted series

Consistency between aggregate/definition of seasonally adjusted data

In some series, consistency between seasonally adjusted aggregates and its components is imposed. For some series there is also a special relationship between the different series, e.g. GDP which equals production minus intermediate consumption.

  • Definitions and relationships that hold for unadjusted figures also apply for seasonally adjusted figures.

Comments : The supply side equals the use side also for seasonally adjusted figures. This implies that changes in stocks/statistical discrepancies are treated as a residual in the seasonally adjusted figures (balancing item). The series for gross value added are adjusted directly (see chapter 1.3) and are not required to match the difference between seasonally adjusted series for production and intermediate consumption (thus, vertical – not horizontal – consistency is imposed).

Direct versus indirect approach

Direct seasonal adjustment is performed if all time series, including aggregates, are seasonally adjusted on an individual basis. Indirect seasonal adjustment is performed if the seasonally adjusted estimate for a time series is derived by combining the estimates for two or more directly adjusted series.

  • Mixed indirect approach where the seasonal adjustment of components possibly occur using different approaches and software.

Comments : QNA uses aggregation routines outside X-12-ARIMA.

Horizon for estimating the model and the correction factors

When performing seasonal adjustment of a time series, it is possible to choose the period to be used in estimating the model and the correction factors. Correction factors are the factors used in the pre-treatment and seasonal adjustment of the series.

  • The whole time series is used to estimate the model and the correction factors
  • The whole time series is used to estimate the correction factors. Only part of the time series is used to estimate the model.

Comments : For most series the whole time series is used for estimating the model and correction factors, but for some series only part of the time series is used to estimate the model.

Audit procedures

General revision policy

Seasonally adjusted data may change due to a revision of the unadjusted (raw) data or the addition of new data. Such changes are called revisions, and there are several ways to deal with the problem of revisions when publishing the seasonally adjusted statistics.

  • Seasonally adjusted data are revised in accordance with a well-defined and publicly available revision policy and release calendar.

The following table gives an indication of the expected growth rate revisions from the previous period when we compare the initial and final published data. This only applies to revisions caused by seasonal adjustment routines where revisions of raw data are not considered.

The figures for gross domestic product for Mainland Norway show that the seasonally adjusted growth rate from the previous period is exposed to a revision of 0.2 percentage points when new observations are added. It turns out that figures for the 1st quarter are subject to the least revisions. The table shows that gross fixed capital formation, exports and imports are most likely to be revised.

revisions

Concurrent versus current adjustment

  • The model, filters, outliers and regression parameters are re-identified and re-estimated continuously as new or revised data become available.

Horizon for published revisions

  • The individual series will be revised when seasonal factors are re-estimated. Concerning the main aggregates the period of revisions is limited from the base year to the present. This means that seasonally adjusted data for quarterly national accounts are held constant from 1978 to the base year.

Comments : This applies as long as the unadjusted figures before the base year remains unchanged. When a new base year is established, and the time series are updated, we use identical seasonal adjustment factors as before. This means that changes in seasonally adjusted data are only due to changes in the unadjusted data.

Quality of seasonal adjustment

Evaluation of seasonally adjustment data

  • Continuous/periodical evaluation using standard measures proposed by different seasonal adjustment tools.

Quality measures for seasonal adjustment

  • For most of the series, a selected set of diagnostics and graphical facilities for bulk treatment of data is used.

Table of quality measurement for this statistics:

For more information on the quality indicators in the table please refer to: metadata on methods: seasonal adjustment .

Comments to the table of qualitative indicators

All series were adjusted with the multiplicative method. The results of main aggregates’ are calculated via a direct adjustment with X-12-ARIMA. Although these series in practice are indirectly adjusted, we may claim that the results are still valid (see chapter 1.3)

X-12-ARIMA chooses automatically the most appropriate model for the individual series, apart from the series for gross fixed capital formation in extraction and transport via pipelines , gross domestic product for Mainland Norway, gross value added for production of other goods and gross value added for service activities, where the model is chosen manually.

Most aggregates do not show any trading day effects. Nevertheless, the location of the Easter holidays are significant for half part of the aggregates.

ANOVA shows that the rates of change for the original series are primarily due to seasonal effects. The contribution from trend and the irregular component is particularly relevant for final consumption expenditure of general government, gross fixed capital formation in extraction and transport via pipelines and exports. For GDP almost 87 per cent of the change in the raw data is explained by season. The rest is mostly explained by trading days and trend.

ASA and ACH were calculated for the period 2011-2013. The results show that revisions of the growth rates from the previous quarter ranged from 0.2 percentage points for GDP to 1.4 percentage points for export crude oil and natural gas .

M- and Q-values for the main aggregates indicate that some of the series (household final consumption expenditure, final domestic use of goods and services and GDP) are adjusted with satisfactory results. Nevertheless both levels and rates of change for the latest periods are exposed to revisions. The series may have some irregular fluctuations.

The remaining series are adjusted with questionable results. Levels and rates of change may have a great deal of variation in the most recent figures. The results should be interpreted with caution.

Special cases

Seasonal adjustment of short time series

  • All series are sufficiently long to perform an optimal seasonal adjustment.

Treatment of problematic series

  • For some series only recent years of the series are used to seasonally adjust the series, because deleting earlier data makes it possible to find a model/adjustment of reasonable quality.

Comments : Some problematic series are aggregated before they are seasonally adjusted. An example of such a series is gross value added for refined petroleum products which fluctuates between positive and negative levels. In order to avoid influencing GDP in an inappropriate way, this series is put together with gross value added for other chemical products, and the sum of the two industries are seasonally adjusted.

Posting procedures

Data availability

  • Both unadjusted (raw) and seasonally adjusted data are available.

Comments : However, not all seasonally adjusted figures are published.

Press releases

  • In addition to raw data, at least one of the following series is released: pre-treated, seasonally adjusted, seasonally plus working day adjusted trend-cycle series.
  • Both levels and growth rates are presented.
  • Empirical values are presented to evaluate revisions of data in earlier press releases.

References

Contact