Item 3 Observed consistency and revisions 10/05/2019 Item 3 Observed consistency and revisions 03 March 2016 Expert meeting on revisions in EDP and GFS

What is consistency? Of data transmitted at the same time? OR 10/05/2019 What is consistency? Of data transmitted at the same time? OR Of data validated at the same time? OR Of all NA tables, EDP, GNI for OR, irrespective of national publication schedule and common transmission deadlines?

Eurostat's view on EDP and GFS is output-oriented Tables are consistent with each other when they contain the same data for common indicators and at the time they are published together.

Within GFS and EDP Some tables have a longer transmission deadline than others and require more detailed compilation (e.g. COFOG)  may lead to adjustments in other tables Non-immediate adjustment not a problem when data is not transmitted/ published at the same time. Consistency at same transmission deadlines should be ensured.

In practice: Consistency within GFS/ EDP Consistency of non-financial data with EDP assured in almost all cases: One issue for ESA table 2 in April 2015, covering the past four years One issue for ESA table 25 in October 2015, covering the past three years. Category: "unforeseen"/ "unplanned" revisions? Consistency of B.9 and everything is fine? No, because GFS is used for macroeconomic forecasts.

In practice: Consistency within GFS/ EDP Consistency of financial accounts data (ESA table 27) with EDP: About one third of countries show differences! Consistency of Maastricht debt: Assured in all recent transmissions.

Observed consistency: P.3/ P.31/ P.32 03/03/2016 Observed consistency: P.3/ P.31/ P.32 Between ESA table 2 and ESA table 11: In the last assessment, 10 countries showed systematic differences not related to "vintage". Affecting, if ESA table 2 is aligned with ESA table 8, the actual final consumption of households. Is this a serious issue? Depends on your perspective. BE, BG, IE, LT, LU, HU, NL, PL, FI and CH.

Observed revisions: B.9 Out of 31 countries, revisions in data validated between late Oct 2014 and late Oct 2015 exceeding the four EDP years were observed in 20 countries.

Observed revisions: B.9 - annual 03/03/2016 Observed revisions: B.9 - annual

Observed revisions: P.3 - annual 03/03/2016 Observed revisions: P.3 - annual

Observed revisions: Maastricht debt 7 out of 29 countries did not revise back data – of these two break in series.

Between GFS and wider national accounts Different transmission deadlines Sometimes routine and other revisions are performed after transmission of wider NA tables Temporary "timing" or "vintage" differences

Observed consistency: P.3/ P.31/ P.32 AT BE BG CH CY CZ DE DK EE EL ES FI FR HR HU IE difference last four years 429 1 -138 -43076 -430 -121 -1451 back data -45 -643 -3 -14004 ND IS IT LT LU LV MT NL NO PL PT RO SE SI SK UK -150 -683 926 -1 2241 -12424 -642 1571 9197 -8658

Observed consistency: goods and services accounts Persistent differences for three countries.