National Accounts - Quarterlies December 2018

Gross domestic product: December 2018 quarter – revisions We incorporated some revisions in this release. Revisions reflect new or improved data that affect historical results, or changes to the underlying measure. In both cases we aim to better represent the real-life situation of a changing society, economy, and environment. Incorporation of annual agricultural production statistics We incorporated data from Agricultural production statistics: June 2018 (provisional). The data replaced earlier provisional and modelled stock levels. Incorporating the data led to revisions to agricultural activity in GDP, and to agricultural inventories in the expenditure measure of GDP. These changes caused revisions from the March 2016 quarter onwards. Revisions due to updated indicator data We received updated respondent information and other source data, causing revisions to: electricity, gas, water, and waste services transport, postal, and warehousing information, media, and telecommunications financial and insurance services rental, hiring, and real estate services changes in inventories imports and exports travel exports, leading to small revisions in household consumption expenditure gross fixed capital formation local and central government expenditure. Revisions table The following table shows previously published and revised quarterly movements until the September 2018 quarter for GDP and expenditure on GDP (GDE). |Previously published and revised quarterly movements| |:------|:------:|:------:|:------:|:------:| | | GDP | | GDE | | Quarter | Previously published | Revised | Previously published | Revised | Mar-15 | 0.4 | 0.3 | 0.7 | 0.7 | Jun-15 | 0.8 | 0.8 | 0.9 | 0.9 | Sep-15 | 0.9 | 0.9 | 1.4 | 1.4 | Dec-15 | 1.0 | 1.0 | 1.0 | 1.0 | Mar-16 | 1.2 | 1.2 | 1.2 | 1.2 | Jun-16 | 0.9 | 0.9 | 1.1 | 1.1 | Sep-16 | 0.9 | 0.9 | 0.5 | 0.5 | Dec-16 | 0.4 | 0.4 | 0.6 | 0.5 | Mar-17 | 0.9 | 0.8 | 0.5 | 0.5 | Jun-17 | 0.9 | 0.9 | 0.7 | 0.7 | Sep-17 | 0.9 | 0.9 | 1.0 | 1.0 | Dec-17 | 0.7 | 0.8 | 0.4 | 0.7 | Mar-18 | 0.6 | 0.5 | 0.6 | 0.5 | Jun-18 | 1.0 | 0.9 | 1.1 | 1.0 | | Sep-18 | 0.3 | 0.3 | 0.5 | 0.4 | Source: Stats NZ en-NZ