The 2004 to 2007 revisions of the Income and Expenditure Accounts

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Table 4a Revisions to gross domestic product (growth rates): current dollars
Reference period
Initial estimate1
Previous estimate2
Revised estimate3
Current revision4
Cumulative revision5
% percentage points
seasonally adjusted data at annual rates
2004
6.1
6.4
6.4
0.0
0.3
2005
6.1
6.5
6.3
-0.2
0.2
2006
4.9
5.2
5.7
0.5
0.8
2007
5.9
5.9
5.9
0.0
0.0
2004 Q 1
1.8
1.9
1.9
0.0
0.1
2004 Q 2
2.5
2.6
2.6
0.0
0.1
2004 Q 3
1.7
1.5
1.6
0.1
-0.1
2004 Q 4
1.2
1.1
1.0
-0.1
-0.2
2005 Q 1
1.0
1.1
0.9
-0.2
-0.1
2005 Q 2
1.3
1.6
1.5
-0.1
0.2
2005 Q 3
2.8
2.5
2.7
0.2
-0.1
2005 Q 4
2.0
2.0
2.1
0.1
0.1
2006 Q 1
0.2
0.9
1.0
0.1
0.8
2006 Q 2
0.2
0.8
0.9
0.1
0.7
2006 Q 3
0.6
0.7
0.9
0.2
0.3
2006 Q 4
0.7
0.5
0.6
0.1
-0.1
2007 Q 1
2.4
2.6
2.5
-0.1
0.1
2007 Q 2
2.3
2.3
2.2
-0.1
-0.1
2007 Q 3
0.5
0.5
0.3
-0.2
-0.2
2007 Q 4
1.3
1.3
1.2
-0.1
-0.1

Notes:

Q = Quarter

1. For annual data, the initial estimate is from the fourth quarter of the corresponding year, for quarterly data, it is the estimate first published for the corresponding quarter. The initial annual estimate is not the average of the initial quarterly estimates as the latter have already been revised by the time the initial annual estimate is released.
2. For 2004, 2005 and 2006, the previous estimate is the one released with the first quarter of 2007, while for 2007 it is from the fourth quarter issue of 2007.
3. The revised estimates are the result of the revisions at the time of the first quarter 2008.
4. The current revision is the revised estimate less the previous estimate.
5. The cumulative revision is the revised estimate less the initial estimate.
Table 4b Revisions to gross domestic product (growth rates): chained (2002) dollars1
Reference period
Initial estimate2
Previous estimate3
Revised estimate4
Current revision5
Cumulative revision6
% percentage points
seasonally adjusted data at annual rates
2004
2.8
3.1
3.1
0.0
0.3
2005
2.9
3.1
2.9
-0.2
0.0
2006
2.7
2.8
3.1
0.3
0.4
2007
2.7
2.7
2.7
0.0
0.0
2004 Q 1
0.6
0.7
0.7
0.0
0.1
2004 Q 2
1.1
1.2
1.2
0.0
0.1
2004 Q 3
0.8
1.0
1.1
0.1
0.3
2004 Q 4
0.4
0.6
0.7
0.1
0.3
2005 Q 1
0.6
0.4
0.2
-0.2
-0.4
2005 Q 2
0.8
0.9
0.7
-0.2
-0.1
2005 Q 3
0.9
1.0
1.0
0.0
0.1
2005 Q 4
0.6
0.9
1.1
0.2
0.5
2006 Q 1
0.9
0.8
1.0
0.2
0.1
2006 Q 2
0.5
0.4
0.4
0.0
-0.1
2006 Q 3
0.4
0.3
0.3
0.0
-0.1
2006 Q 4
0.4
0.4
0.5
0.1
0.1
2007 Q 1
0.9
1.0
1.0
0.0
0.1
2007 Q 2
0.8
0.9
1.0
0.1
0.2
2007 Q 3
0.7
0.7
0.6
-0.1
-0.1
2007 Q 4
0.2
0.2
0.2
0.0
0.0

Notes:

Q = Quarter

1. For 2004, 2005 and 2006, the initial estimate is in chained (1997) dollars.
2. For annual data, the initial estimate is from the fourth quarter of the corresponding year, for quarterly data, it is the estimate first published for the corresponding quarter. The initial annual estimate is not the average of the initial quarterly estimates as the latter have already been revised by the time the initial annual estimate is released.
3. For 2004, 2005 and 2006, the previous estimate is the one released with the first quarter of 2006, while for 2007 it is from the fourth quarter issue of 2007.
4. The revised estimates are the result of the revisions at the time of the first quarter 2008.
5. The current revision is the revised estimate less the previous estimate.
6. The cumulative revision is the revised estimate less the initial estimate.