GDP Growth Rates Calculated from Quarterly National Accounts: Discrepancies and Revisions

Abstract

The differences between income‐based and expenditure‐based rates of real GDP growth are examined. The extent to which initial growth rates are subsequently affected by data revisions is documented. Results of regressions of first reported growth rates on the growth rates reported in QNA June 1985 are presented for three samples ‐ the sample of income‐based estimates of GDP growth rates, the sample of expenditure‐based estimates and the sample of mean rates (average of the two estimates). 1985 The University of Melbourne, Melbourne Institute of Applied Economic and Social Research