FUTURE RESEARCH AGENDA
There are a number of areas that require further research in order to be able to maximise the quality of estimates. These areas include:
- Improving the quality of the initial estimates of the current year GSP. The Australian National Accounts: State Accounts draw on information from a wide range of statistical sources, some of which are available on a regular and timely basis, some are regular but only available with a delay of several years, and others which are only available on an ad-hoc basis. The quality of these data sources are constrained by many factors, including the purposes which they must serve and respondents ability to provide the information in timeframes required. Therefore, estimates for the most recent year can be subject to considerable revision as firmer data become available. This applies to national estimates of GDP, as well as both the GSP(P) and GSP(I/E) for 2005-06. Understanding how best to use the existing data to estimate the current year will help reduce revisions from the initial estimates when higher quality data become available.
- Understanding the causes of discrepancies between the existing GSP(I/E) estimates and the new GSP(P) estimates.
- Improving the data and methodology for a number of industries, in particular Property and business services, Electricity gas and water and Ownership of dwellings. This research will be combined with the ongoing program to improve the national estimates for these industries.
These areas will be investigated and consultation will continue with SAUG about the results of these investigations prior to any implementation of changes.
An important upcoming change that will affect the State Accounts is the implementation of the new industry classification as published in Australian and New Zealand Standard Industrial Classification, 2006 (ANZSIC06), in 2009. The new classification structure can be found in the ABS publication Australian and New Zealand Standard Industrial Classification, 2006 (cat. no. 1292.0). The implementation of changes arising from updated international statistical standards, the System of National Accounts 1993 Rev.1 and Balance of Payments Manual 6, will also have an impact on the State Accounts.
These changes will be implemented in the State Accounts release in November 2009. Information papers detailing changes to State Accounts and other National Accounts publications as a result of the new ANZSIC and changed international standards will be provided closer to the implementation date.
The inclusion of the GSP(A) and GSP(P) estimates is a major change in State Accounts and, as such, the ABS would be interested in receiving any feedback on these estimates and their inclusion in Australian National Accounts: State Accounts. Please contact Donna Grcman (email donna.grcman@abs.gov.au or telephone (02) 6252 5892) if you have any comments or inquiries about the proposed approach.
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