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National Accounts and other statistical outputs frequently require “balancing” or “benchmarking”: adjusting estimates to satisfy internal consistency constraints and/or to reconcile information from multiple sources. Mathematical optimisation techniques such as weighted least squares balancing (WLS) are used for this purpose by other agencies and offer advantages over current ABS methods. The additional flexibility of WLS methods will improve the production and quality of National Accounts estimates, by making better use of data quality information and saving time currently spent in manual processes.
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