ELSTAT sus­pends flash GDP es­ti­mates

Kathimerini English - - Focus -

Greece’s statis­tics ser­vice ELSTAT has sus­pended un­til fur­ther no­tice the re­lease of flash quar­terly es­ti­mates on the coun­try’s gross do­mes­tic prod­uct be­cause of di­ver­gences with pro­vi­sional es­ti­mates, an of­fi­cial at the statis­tics ser­vice said yes­ter­day. The move means that flash data will not be is­sued on Au­gust 14. Na­tion­wide quar­terly GDP data will be re­leased on Septem­ber 1, tak­ing into ac­count more in­for­ma­tion than the early in­di­ca­tor of the flash es­ti­mate. A se­nior ELSTAT of­fi­cial told Reuters the sus­pen­sion of the flash data was nec­es­sary be­cause flash data was is­sued on the ba­sis of in­com­plete in­for­ma­tion, which sub­se­quently needed re­vi­sions when more data came in. “We will prob­a­bly not pub­lish flash es­ti­mates for the next com­ing quar­ters af­ter re­cent di­ver­gences,” the ELSTAT of­fi­cial said. There have been con­sid­er­able dif­fer­ences in the past two quar­ters be­tween flash data, is­sued 45 days af­ter the lapse of the ref­er­ence pe­riod, and pro­vi­sional data that fol­lows and is re­leased within a 60-day pe­riod. “We don’t have all the nec­es­sary data for the flash es­ti­mates on time. We just have data only for two months of the quar­ter on em­ploy­ment and not the fi­nal data for the cur­rent ac­count bal­ance,” the of­fi­cial said. “We want to ex­plore the avail­abil­ity of the nec­es­sary data sources and im­prove the con­sis­tency of the flash es­ti­mates.” Ire­land, Lux­em­bourg and Swe­den do not is­sue

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