Quarterly GDP is based on Regulation EU 2223/96.
Purpose of compilation
The purpose of quarterly GDP compilation is to monitor short-term dynamics in economic activities, i.e. presentation of general picture of current economic changes within quarterly dynamics. In this manner, a more regular picture of the situation in the economy is provided; detailed information, both financial and non-financial, of economic activity.
The compilation covers all activities in line with the concept of SNA 1993, ESA 1995, Handbook on Price and Volume Measures in National Accounts 2001, Quarterly National Accounts Manual.
The quarterly GDP compilation is done by production approach, in current and constant prices, according to the activity classification, which is harmonised with the classification NACE rev. 2.
Data sources used for compiling quarterly GDP are various and cover the whole range of economic and financial indicators, directly or indirectly connected with the economic activity aggregates.
Direct sources of data are surveys specially created to define variables in the short-term dynamics for the needs of quarterly GDP compilation.
Indirect data sources are all those sources, i.e. series which describe changes of individual area of economy within the quarterly dynamics. These are specific statistical surveys providing information on different areas in the economy (price statistics, trade, tourism, etc.). In addition to the statistical sources, administrative data are also used, e.g. the data on budget incomes and revenues.
Project for the development of quarterly accounts is under way.