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Key source data and assumptions for the advance estimates of GNP: easier access and redesigned format.

THE advance quarterly estimates of GNP, which are released during the first month following the end of the quarter, are based on preliminary and incomplete source data and on BEA assumptions about the missing source data.' Since 1978, a hard-copy summary of these assumptions has been available on a subscription basis shortly after the release of each advance GNP estimate. 2 This information can be used to evaluate BEA's assumptions on missing source data and the impact of newly available and revised source data on the advance GNP estimate. This note reports on changes that have been made in the availability and contents of the summary and shows the assumptions for the advance GNP estimate for the second quarter of 1988.

The summary information is now available about noon the day after the GNP news release through the Commerce Department's Economic Bulletin Board at a nominal charge to users. The Bulletin Board may be called by personal computer, computer terminal, or word processor equipped with modem; the information on it may either be viewed on the user's screen or downloaded. For more information about both the hard-copy subscription and the Bulletin Board, see "A User's Guide to BEA Information" in -the March 1988 SURVEY OF CURRENT BUSINESS. For more information about the assumptions, write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230, or call (202) 523-0669.

The contents of the summary have been changed in several ways.

* More detail is shown for personal

consumption expenditures and for

fixed investment.

* The change in business invento

ries and merchandise exports and

imports series shown have been

changed to parallel more closely

the Census Bureau published se

ries from which they are derived.

* Several footnotes identify major

differences between the GNP com

ponents and the underlying source

data.

Information on the source data and assumptions for price indexes used to prepare constant-dollar estimates of GNP has been dropped because price indexes cannot be conveniently summarized for many components and because it appeared that little use was being made of this information.

In using information in the table, users should note that quarterto-quarter changes in key source data series do not always correspond exactly with changes in corresponding GNP components. First, the source data selected for the table are those likely to be most important in determining the change and accordingly not all source data are shown. Second, the detailed components of some source data are reweighted in BEA's estimating methodologies. Third, BEA occasionally makes adjustments to source data on the basis of additional information or judgment.
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Title Annotation:gross national product
Publication:Survey of Current Business
Date:Jul 1, 1988
Words:435
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