1. Quarterly Sector Accounts in the European Union - Recent and future developments - OECD - NA Working Party 4-6 November 2009 Eurostat / Denis Leythienne

2. A joint Eurostat – ECB project Eurostat compiles the non-financial accounts - of the European Union - of the euro area (in cooperation with ECB) ECB compiles the financial accounts - of the euro area (MUFA) - reconciles them with non-financial accounts within the EAA Scope of this presentation: non-financial accounts (QSA)

3. Quarterly Sector Accounts in the European Union Milestones Data collection European accounts Results Future developments

4. Milestones 1996: ESA95 Transmission programme 2000: Action Plan on EMU Statistical Requirements 2005: QSA Regulation (EC-1161/2005) 2006: First Publication of European ASA 2007: First publication of European QSA

5. Data collection Full but simplified set of non-financial accounts - From Value Added to net lending / borrowing Institutional sectors - Non-financial corporations (S11) - Financial corporations (S12) - Government (S13)* - Households+NPISH (S14+S15) - Rest of the World (S2)* (*: Sectors to be reported by countries < 1% EU-GDP) Transmission deadline: Q + 90 days

6. Data collection Validation - Accounting constraints (Resources/Uses, Balancing items) - Consistency vis-à-vis related statistics (ASA / QNA / Government / BOP) - Revision analysis - Plausibility of quarterly patterns => Data sharing (next slide)

7. Possible outliers COUNTRY A COUNTRY B

8. European accounts Aggregation of the NA of the Member States European accounts Country A European institutions Country B Country A European institutions Country B

9. Results News release at Q + 120 days –EA and EU aggregates –Jointly with QFA of the EA (ECB) –No country breakdown Focus on seasonally adjusted data for key indicators: -Household saving rate: B6G/(B8G+D8net) -Household investment rate: P51/(B8G+D8net) -Investment rate of non-financial corporations: P51/B1G -Profit share of non-financial corporations: B2G/B1G Decomposition of nominal growth

10. Household investment rate Household saving rate

11. Investment rate of non-financial corporations Profit share of non-financial corporations

13. Future developments End 2009: publication of key indicators by country: - Broad country coverage - Focus on key indicators - 4 quarter cumulated sums 2010: Inventories of QSA Sources & Methods (Restricted release) 2014: Revised ESA transmission programme - QSA merged with government statistics - Seasonally adjusted data by country (e.g. for key indicators) - Price / Volume data by country (e.g. for VA and investment)

14. For more information: => http://ec.europa.eu/eurostat/sectoraccounts (Eurostat)http://ec.europa.eu/eurostat/sectoraccounts => http://www.ecb.eu/stats/acc/html/index.en.html (ECB)http://www.ecb.eu/stats/acc/html/index.en.html