News 20 Jun 2019

Publication of preliminary annual national accounts data accelerated by one month

Preliminary annual national accounts data have been released with the accelerated schedule for the first time on 20 June 2019. Previously, corresponding data would have been published in the second week of July.

The primary compilation method of the preliminary annual data has been revised. Both quarterly and annual sources have been used in the compilation. Acceleration of the release affects the data content so that it is more aggregated than in the previous data released in July.

The focus of national accounts has been shifted to quarterly national accounts, where we have tried to improve the data basis especially in terms of investments. The calculation method for value added in quarterly national accounts has also been revised by utilising the volume data of Statistics Finland's volume index of industrial output and the statistics on turnover in service industries more extensively. In addition, a more extensive division of data into the public and private economy has been made in the quarterly national accounts.

Annual sources have been used for sub-areas where preliminary annual data are available. This has been considered, for example, in the calculation of the public sector and the non-financial corporations sector, whose share considerably affects the value added.

The StatFin tables  of the national accounts have also been revised. The classifications of the StatFin tables have been harmonised, the names of tables have been changed, and tables have been combined. We have also created the page Structural changes to National Accounts’ StatFin tables for users on Statistics Finland’s web site, where you can check which of the old tables have been combined.

National accounts have compiled a PDF table package on the key aggregates. The tables in this table package will be replaced as table links during June 2019.

The publication times of preliminary annual national accounts data will change so that, in future, annual data will be updated in connection with each quarter in March, June, September and December.

Annual data will next be updated on 20 September 2019 when a time series revision will also be made in national accounts for the entire time series in accordance with the international recommendation.

Renewal of national accounts and release schedule for 2019

More information:

Senior statistician Tapio Kuusisto tel. +358 29 551 3318, twitter @kuusisto_tapio , annual data

Senior statistician Samu Hakala tel. +358 29 551 3756, quarterly data

 

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