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Estimation European main aggregates
Eurostat simultaneously estimates the annual and quarterly EU and euro area main aggregates using Member States’ information, as far as available as inputs ( April 2016). For missing data, for example due to derogations, imputations are made. In order to ensure consistency between quarterly and annual data, in each quarterly estimation round the quarterly data are aligned with the corresponding annual data.
More information on the compilation of the European main aggregates and on treatment of specific methodological issues related to the introduction of GDP flash estimates at 30 days can be found in the documents below:
- Introduction video: GDP at 30 days
- European GDP at 30 days estimation method: Summary
- Euro area and EU GDP flash estimates at 30 days
- GDP flash at 30 days estimation methods for Member States
- Questions and Answers GDP t+30 (April 2016)
Older documents (still based on ESA 95)
- Compiling annual and quarterly accounts for the European Union and the euro area (ESA 95)
- Frequently asked questions (ESA 95)
Revision policy European main aggregates
Eurostat compiles EU and euro area main GDP aggregates which are regularly revised as follows:
As of end-April 2016 the preliminary flash estimate of quarterly GDP growth is published around 30 days after the end of the reference quarter.
Subsequently, at 45 days after the end of the quarter a more final quarterly GDP flash estimate is published. At the release dates of these two GDP flash estimates other series/variables are not revised, nor is GDP growth for previous quarters.
As from 14 November 2018 onwards, a new 'flash estimate' of quarterly total employment growth in persons is published 45 days after the end of a quarter alongside the flash estimate of GDP.
The flashes are followed by the regular release at around 65 days, covering GDP as its main aggregates from the production, expenditure and income approach.
From December 2018 onwards, the estimation of domestic employment (domestic concept) is integrated with the GDP release (see section on employment estimates).
A further GDP and main aggregates database update is published at around t+110 days with a statistics explained article. It incorporates country data received up to 3 months after the reference quarter to improve the consistency of data used for analysis and the forecasting process.
All euro area and EU quarterly and annual accounts series for all reference periods are open for revision with the regular (t+65 and t+110 releases).
Member States may revise their figures between the Eurostat release dates. Eurostat publishes these revised Member States' accounts but does not recalculate the EU accounts until the next scheduled EU release. Geographical coherence will hence be lost for a brief period. In turn, a certain stability of annual aggregates is assured, and annual and quarterly EU aggregates will by default be coherent.