Abstract
National accounts data provide the most comprehensive overview available of developments in national economies. They are of great interest to a wide range of users of economic information who have needs which may differ in many respects. However, since their interest generally stems from the likelihood that they will make better decisions if they are well informed about economic developments, they all have a strong interest in the accuracy of economic data. This paper examines the reliability of preliminary quarterly national accounts statistics. In particular, it considers the longer-term behaviour of the provisional estimates to GDP growth and its main expenditure components for the seven largest OECD countries, through an examination of the revisions to those estimates. The results suggest that preliminary estimates for output growth have not been statistically biased. The average size of revisions has been large although smaller than those exhibited by the demand components of the quarterly national accounts.
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