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WHAT IF...? REVISIONS TO TREND ESTIMATES


EFFECT OF NEW SEASONALLY ADJUSTED ESTIMATES ON TREND ESTIMATES


TREND REVISIONS

The most recent seasonally adjusted and trend estimates are likely to be revised when original estimates for subsequent quarters become available. To assess reliability of the trend estimate at the current end, the 'what-if' chart presents trend estimates under different scenarios for the next quarter. The approximate effect of two possible scenarios on the current and previous trend estimates for total company gross operating profits and total inventories are presented below.

1. Next quarter's seasonally adjusted estimate of total inventories, and seasonally adjusted estimate for company gross operating profits respectively, are higher than the current quarter's estimate by the percentage shown.

2. Next quarter's seasonally adjusted estimate of total inventories, and seasonally adjusted estimate for company gross operating profits respectively, are lower than the current quarter's estimate by the percentage shown.

Inventories (Chain Volume Measures)

What if next quarter's seasonally adjusted estimate: Trend as published rises by 1.1% on this quarter (1) falls by 1.1% on this quarter (2) $m % $m % $m % 2009 March 138 581 -1.1 138 581 -1.1 138 581 -1.1 June 136 977 -1.2 136 760 -1.3 136 937 -1.2 September 136 249 -0.5 136 316 -0.3 136 257 -0.5 December 135 959 -0.2 136 725 0.3 135 878 -0.3

What if next quarter's seasonally adjusted estimate: Trend as published rises by 4.0% on this quarter (1) falls by 4.0% on this quarter (2) $m % $m % $m % 2009 March 58 007 -6.7 58 007 -6.7 58 007 -6.7 June 55 127 -5.0 54 656 -5.8 55 002 -5.2 September 53 890 -2.2 54 021 -1.2 53 901 -2.0 December 53 433 -0.8 54 866 1.6 53 201 -1.3