Period-specific information: Year ended March 2017 publication

Period-specific information Revisions year ended March 2017 This release contains revisions arising from new and more up-to-date information. The most notable changes include: updates of investment data, replacing provisional estimates with data integrated through the supply-use framework revisions to household expenditure data, incorporating changes from education-related travel services and the Retail Trade Survey trade data revisions, including education-related travel services. Changes on high-level GDP and expenditure on GDP growth rates The following tables show the revisions on GDP growth rates from figures we published last year (Nov 2017) to this release (Nov 2018). GDP revisions summary Percentage change from previous year Year ended March Gross operating surplus and gross mixed income Compensation of employees GDP Published Nov 2017 Published Nov 2018 Published Nov 2017 Published Nov 2018 Published Nov 2017 Published Nov 2018 2015 2.3 2.1 5.7 5.7 4.1 4.1 2016 5.2 4.1 4.7 5.3 5.1 5.0 2017 7.8 7.1 4.6 5.3 6.2 6.2 Expenditure on GDP revisions summary Percentage change from previous year Year ended March Gross fixed capital formation Private final consumption expenditure Expenditure on GDP Published Nov 2017 Published Nov 2018 Published Nov 2017 Published Nov 2018 Published Nov 2017 Published Nov 2018 2015 10.0 9.6 4.0 3.8 4.1 4.1 2016 8.4 7.6 4.8 4.7 5.1 5.0 2017 8.2 6.1 5.9 6.7 5.8 6.2 The key drivers of the revisions for each year are listed below: The 2015 revisions are mainly due to incorporating improvement in software investment data in gross fixed capital formation (GFKF) and updates in education-related travel-services, affecting both exports and household expenditure. The 2016 revisions have similar drivers as 2015, coupled with more-up-to-date information from the Annual Enterprise Survey that improved data for production and compensation of employees. The 2017 revisions are mainly the result of replacing previously published provisional estimates with balanced annual data. This includes improvements in GFKF data sources (especially software), and updates in household expenditure data due to revisions in education and retail trade data. See 2018 national accounts improvements preview for more information on the improvements affecting annual industry components for this release. This includes information about revisions before the March 2015 year. Change in our status flags We used the status flag ‘R’ (or ‘revised’) for all data revised from last year’s release, which simplifies the criteria used to prompt this flag. Infoshare and the published csv files contain the status flags and this change affected the balanced years for the 2016 and 2017 March years. The following table summarises the status flags we use in our data. Status flags Infoshare Published csv file Description C CONFIDENTIAL Data contains sensitive information and is unable to be released – to preserve confidentiality of individual businesses P PROVISIONAL Data is provisional and has not been balanced R REVISED Data has been revised from previously published data S - Data is suppressed as our confidence in the quality of the data is considered to be too low (no status flag displayed) FINAL Data has been balanced and is unchanged from previously published We periodically bring in new data sources or make methodology improvements in our national accounts work. To retain coherence in our time series of data, such changes may require adjustments to historical values. Therefore, data values with a FINAL status may be revised in future releases despite the status flag suggesting otherwise. en-NZ