Balancing, benchmarking and other reconciliation procedures Sample Clauses

Balancing, benchmarking and other reconciliation procedures. While some differences between the production and expenditure approaches are balanced during the compilation process, QNA is not fully balanced. An internal target of 3% of GDP is held as a quality target for statistical discrepancy. Estonia also publishes the statistical discrepancy. This is done for two reasons. Firstly, different data sources have their own quality issues. As the estimates are compiled by summing up source data, there is no one single source for discrepancies in the final results. Secondly, statistical discrepancy also provides additional information for users by keeping the GDP components clean of any adjustments not directly related to the corresponding source data. As the QNA and ANA time series are fully consistent, quarterly estimates need to be adjusted with every revision in annual estimates. The first estimate of the last full year in the time series is the sum of its quarters. However, every subsequent revision to the annual estimate is an independent compilation process. This means that the quarterly estimates need to be revaluated once the annual revision is complete. Benchmarking of the quarterly estimates is done using the proportional Xxxxxx-Xxxxxxxx method. This is done on a relatively detailed level as described later in this inventory (Chapter 3). Appropriate indicators for the benchmarking are updated on a regular basis, to provide stronger consistency with source and comparable macro- economic statistics.
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