Dataset:GDP output approach – low-level aggregates
28 September 2018
We previously commented on the identification of notable revisions to growth in the services industries between quarter 4 1997 and quarter 1 1998, advising users to treat the data with caution while we investigated the revisions.
We have now completed our investigation and have discovered a discontinuity in a low-level data source feeding into the financial services industry (industry 64). Due to the annual benchmarking process, this has caused level shifts across the services sector between quarter 4 1997 and quarter 1 1998.
Please note that top level estimates of GDP are unaffected by this discontinuity.
These services sector series will be updated in the Blue Book consistent Quarterly National Accounts due for publication in September 2019, in line with the National Accounts Revisions Policy. In the meantime, we maintain the advice that users treat the services sector data contained within the low level aggregates spreadsheet prior to 1998 with caution.
We apologies for any inconvenience caused.