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GDP is changing

GDP is changing. Silke Stapel-Weber Director National accounts, prices and key indicators Eurostat. Context. ESA 2010 changes. Important update of national accounts concepts Performed every 15-20 years World-wide adaptation ESA is the sister of the UN's SNA

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GDP is changing

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  1. GDP is changing Silke Stapel-Weber Director National accounts, prices and key indicators Eurostat

  2. Context Press briefing - 17 October 2014

  3. ESA 2010 changes • Important update of national accounts concepts • Performed every 15-20 years • World-wide adaptation • ESA is the sister of the UN's SNA • Changing world and changing economies • Globalisation of the economy • Increasing role of ICT • Growing importance of intellectual property products Opportunity for further improvements Press briefing - 17 October 2014

  4. Impact on GDP level Press briefing - 17 October 2014

  5. Total impact on EU GDP level – 20103.67% Statistical improvements 1.40% Methodological changes (ESA2010) 2.27% + Press briefing - 17 October 2014

  6. Press briefing - 17 October 2014

  7. Press briefing - 17 October 2014

  8. Summarising the changes to EU GDP Press briefing - 17 October 2014

  9. Summarising the changes to EU GDP Othermethodological changes Press briefing - 17 October 2014

  10. Summarising the changes to EU GDP Othermethodological changes Press briefing - 17 October 2014

  11. Summarising the changes to EU GDP Otherstatisticalimprovements Othermethodological changes Press briefing - 17 October 2014

  12. Nominal GDP under ESA95 and ESA 2010(€ billions) Press briefing - 17 October 2014

  13. Nominal GDP under ESA95 and ESA 2010(€ billions) Press briefing - 17 October 2014

  14. Nominal GDP under ESA95 and ESA 2010(€ billions) Press briefing - 17 October 2014

  15. Nominal GDP under ESA95 and ESA 2010(€ billions) Press briefing - 17 October 2014

  16. Impact on GDP growth rate Press briefing - 17 October 2014

  17. EU GDP growth rate Press briefing - 17 October 2014

  18. EU GDP growth rate Press briefing - 17 October 2014

  19. Euro area GDP growth rate Press briefing - 17 October 2014

  20. Euro area GDP growth rate Press briefing - 17 October 2014

  21. Conclusions Press briefing - 17 October 2014

  22. Conclusions • Changes shift EU GDP upwards by 3.67% • Recalculation of back data  no breaks in series • Changes hardly impact GDP growth rates • No revolution no rewriting of economic history Press briefing - 17 October 2014

  23. Further information • Eurostat website:http://epp.eurostat.ec.europa.eu • Eurostat media support: eurostat-mediasupport@ec.europa.eu (+352) 4301 33408 Press briefing - 17 October 2014

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