Building a real-time database for GDP(E)

Journal article

The Bank's Monetary Policy Committee analyses a wide variety of data to inform its monetary policy decisions. One of the main questions raised by new data is how much weight should be placed on initial estimates that are likely to get revised. Economic policy decisions must take account of possible revisions to the data that are used to inform the assessment of the current state of the economy. In attempting to improve our understanding of how data are revised, we have constructed a real-time database that contains successive sets of data for a number of different series. This article discusses the construction of the database for the major components of the expenditure side of gross domestic product (GDP) in the UK National Accounts.

Authors: Ellis, C; Castle, J

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Bank of England Publications
• Journal: Quarterly Bulletin- Bank of England
• Volume: 42
• Issue: 1
• Publication date: 2002-03-18
• Acceptance date: 2002-03-18
• ISSN: 0005-5166
• Language: English
• Keywords: SBTMR