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The analysis of revisions to the quarterly real GDP growth rate provides information on the reliability of the initial GDP growth rate estimate. The preceding revisions analysis allows certain conclusions to be made:

1. Historically, revisions to quarterly real GDP growth rate have declined over time; therefore, the initial estimate has become more reliable.
2. Throughout the four-year revision cycle, the largest revision occurs with the second annual revision, which reflects, among other things, the incorporation of the Capital Expenditure Survey and T4 data for wages and salaries.
3. The sign of the initial estimate versus the final estimate was different only in a small number of quarters.
4. Statistical inference has shown that the initial estimates are a reliable indicator of the final estimate. There is no significant bias.
5. There is a tendency to revise the real GDP growth rate upward when GDP growth is increasing and to revise it downward when GDP growth is slowing.
6. The total revisions for specific significant economic events are close to the mean total revision for all periods but fluctuate within the different vintages.

This analysis demonstrates that the initial estimates of GDP are reliable estimates. To monitor this reliability, regular revisions analyzes will be conducted. Revisions to the components of GDP will also be analyzed in a future revisions study.