Correction in secondary income

Correction in secondary income In the latter stages of the September 2017 quarter, we discovered a historical error in the ‘secondary income outflow’ component of the balance of payments data – in the ‘miscellaneous current transfers of general government’ data series. This error affects the secondary income data back to the December 2015 quarter. Since the discovery of the error, we have corrected the error for the June 2017 quarter. Making this correction will mean the level and the movement from the June 2017 to the September 2017 quarter is corrected in the latest release. We have chosen to delay further historical corrections at this time until we complete a full investigation of the flow-on effects across the balance of payments and the wider suite of GDP measures. If you use this specific series (Secondary income outflow; Miscellaneous current transfers of general government) and wish to access the corrected numbers, please contact Keely Betham ([email protected], 04 931 4695). Update 27 February 2018 We have evaluated the effect of the historical error on our macroeconomic statistics and will make the full correction in Balance of payments and international investment position: December 2017 quarter to be released on 14 March. We will also correct ‘real gross national disposable income’ in Gross domestic product: December 2017 quarter, which will be released on 15 March. en-NZ