15-001-XIE Gross Domestic Product by Industry November 2001

Appendices

Appendix IV - A Note on Data Revisions for the Period 1997 to 2001

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Introduction

With the release of the November 2001 data, the monthly detailed estimates of GDP by industry for 235 industries and their aggregates were revised back to January 1997. A more summary level of aggregation, totalling 123 industry aggregations were revised back to January 1981. Revisions for 1997 and 1998 incorporate new annual information compiled by Input-Output Division. The annual data presented in the Input-Output tables reflects a careful synthesis and reconciliation of both survey and census data from many different sources. It is often referred to as ‘benchmark’ data.

With the incorporation of the new benchmarks, the annual levels for 1999 and 2000 were projected so that the movement of the GDP continues to parallel that of the indicators. The monthly estimates of GDP were step-adjusted so they would sum to these projected annual levels between 1999 and 2000 and to the benchmarks for 1997 to 1998. Subject to the annual adding up constraints, the step-adjustment process also minimised revisions to previously published month-to-month movements in GDP.

 

Revisions to Gross Domestic Product by Industry

The following tables provide a summary of revisions to a few special aggregates. The reasons for these revisions are the result of major classification and conceptual changes. The most important of these are: replacement of the 1980 Standard Industrial Classification (SIC) with the 1997 North American Industrial Classification System (NAICS); rebasing from 1992 to 1997 prices, i.e., updating the price structure used to derive constant dollar GDP; a change in valuation from factor cost to basic prices; the capitalization of computer software. Revisions also resulted from the incorporation of new annual information from both survey and census data from many different sources.

Revisions to the annual growth rates are shown in Text Table 1. The table shows that in the year 2000 the growth rate of the total GDP was unchanged. The growth rate was revised up in 1998 and 1999 by 0.7% and 0.5% respectively. These upward revisions were mainly due to the goods producing industries of the business sector.

 

Text Table 1. Revisions to Annual Growth Rates, 1998-2000

	1998	1999	2000
	percentage
All industries	0.7	0.5	0.0
Business sector industries	0.8	0.5	0.1
Business sector - goods	1.4	1.0	0.2
Business sector - services	0.4	0.2	-0.1
Non-business sector industries	0.2	0.1	-0.4
Non-business sector - goods	7.0	-4.1	-3.2
Non-business sector - services	0.1	0.1	-0.3
Goods producing industries	1.4	1.0	0.2
Services producing industries	0.4	0.3	-0.1
Industrial production	1.0	1.1	-0.1
Durable manufacturing industries	-0.1	2.1	-0.1
Non-durable manufacturing industries	1.9	0.7	-0.9

 

 

The revisions to the quarterly growth rates are presented in Text Table 2. Overall GDP growth rates were revised by 0.4% or less.

 

Text Table 2. Revisions to Quarterly Growth Rates, 1997-2001

		I	II	III	IV
	percentage
All industries	1997		0.1	0.0	0.2
	1998	0.4	0.0	0.3	0.1
	1999	0.3	-0.2	0.0	0.2
	2000	0.1	-0.2	0.0	-0.2
	2001	-0.2	0.0
Business sector industries	1997		0.1	-0.1	0.1
	1998	0.6	0.0	0.3	0.1
	1999	0.4	-0.3	0.1	0.2
	2000	0.1	-0.2	0.0	-0.2
	2001	-0.2	0.0
Business sector - goods	1997		0.1	0.3	0.5
	1998	0.7	-0.1	0.2	0.3
	1999	0.8	-0.2	0.1	-0.1
	2000	0.3	0.0	0.3	-0.1
	2001	-0.5	-0.1
Business sector - services	1997		0.0	-0.4	-0.1
	1998	0.4	0.0	0.4	0.0
	1999	0.2	-0.3	0.0	0.4
	2000	0.0	-0.3	-0.1	-0.2
	2001	-0.1	0.0
Non-business sector industries	1997		0.3	0.2	0.3
	1998	-0.4	0.1	0.2	0.1
	1999	-0.2	0.2	-0.1	0.1
	2000	-0.2	-0.2	0.0	-0.3
	2001	-0.1	-0.1
Non-business sector - goods	1997		-2.6	0.1	-0.7
	1998	6.6	3.7	-1.8	-1.6
	1999	-1.4	-0.9	-0.7	-0.9
	2000	-1.3	-0.7	0.0	0.0
	2001	-2.2	1.4
Non-business sector - services	1997		0.4	0.2	0.3
	1998	-0.5	0.1	0.3	0.1
	1999	-0.2	0.2	-0.1	0.1
	2000	-0.2	-0.2	0.0	-0.3
	2001	-0.1	-0.1
Goods producing industries	1997		0.1	0.3	0.5
	1998	0.7	-0.1	0.2	0.3
	1999	0.8	-0.2	0.1	-0.1
	2000	0.3	0.0	0.3	-0.1
	2001	-0.5	-0.1
Services producing industries	1997		0.1	-0.2	0.0
	1998	0.2	0.1	0.4	0.0
	1999	0.1	-0.2	0.0	0.3
	2000	0.0	-0.2	-0.1	-0.2
	2001	-0.1	0.0
Industrial production	1997		-0.1	0.0	0.4
	1998	0.8	-0.2	0.1	0.0
	1999	1.2	-0.1	0.1	-0.1
	2000	0.0	-0.1	0.2	-0.3
	2001	-0.7	0.1
Non-durable manufacturing industries	1997		0.0	0.1	-0.1
	1998	0.3	-0.2	-0.6	0.3
	1999	2.2	0.0	-0.1	-0.3
	2000	-0.3	0.5	0.5	-0.4
	2001	-0.3	-0.9
Durable manufacturing industries	1997		-0.2	-0.5	0.1
	1998	1.5	-0.2	0.6	-0.7
	1999	1.0	0.0	-0.2	0.0
	2000	-0.2	-0.5	0.0	-0.6
	2001	-1.0	0.6

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