National Accounts- Quarterlies December 2019

Gross domestic product: December 2019 quarter – revisions to previously published statistics 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 2019 (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 September 2016 quarter onwards. Revisions due to updated indicator data We received updated respondent information and other source data, causing minor revisions to: · fishing · mining · manufacturing · electricity, gas waste and water · information, media, and telecommunications · financial and insurance services · rental, hiring, and real estate services · local government administration · household consumption expenditure · local and central government expenditure · changes in inventories · gross fixed capital formation · imports and exports. Revisions to inventories Revisions were made during the process of reconciling change in inventories with other movements in production and expenditure series. This process is designed to minimise inconsistencies in timing and valuation. Revisions table The following table shows previously published and revised quarterly movements until the December 2019 quarter for GDP and expenditure on GDP (GDE). Previously published and revised quarterly movements Gross Domestic product Gross domestic expenditure Percentage change from previous quarter Quarter Previously published Revised 19 March 2020 Previously published Revised 19 March 2020 June 2015 0.8 0.8 0.9 1.0 September 2015 1.0 1.0 1.5 1.5 December 2015 1.0 1.0 1.0 1.0 March 2016 1.2 1.2 1.2 1.2 June 2016 1.0 1.0 1.0 1.0 September 2016 0.9 0.9 0.6 0.6 December 2016 0.3 0.3 0.6 0.6 March 2017 0.8 0.8 0.9 0.8 June 2017 1.1 1.0 1.4 1.4 September 2017 0.7 0.8 1.2 1.2 December 2017 0.7 0.7 0.8 0.8 March 2018 0.7 0.7 0.7 0.6 June 2018 1.0 0.9 0.7 0.7 September 2018 0.6 0.6 0.4 0.4 December 2018 1.0 1.0 0.9 0.8 March 2019 0.4 0.4 0.4 0.6 June 2019 0.1 0.0 0.5 0.3 September 2019 0.7 0.8 0.6 0.6 Source: Stats NZ en-NZ