Meeting with financial experts on gross domestic product calculations


On March 5 this year Central Statistical Bureau (CSB) organized a meeting with main gross domestic product (GDP) data users – representatives of leading state administration institutions and financial institutions – in order to provide them with detailed information on current procedure of calculations of seasonally adjusted rate of GDP dynamics. Participants of the meeting were presented results which were obtained using different methods of seasonal adjustment, as well as were shown that in situation, in which state economy is at the moment, until now applied procedure of automatic pattern selection of seasonal adjustment programme is not appropriate anymore. Carrying out deeper research of time series, consulting with long-term cooperation partner – Finland statistics and other experts of Latvian financial institutions, as well as taking into account guidelines of the Statistical Office of the European Communities (Eurostat), the CSB has developed procedure of seasonal adjustment of GDP dynamics which will ensure most appropriate data for analytical purposes obtained in the result of seasonal adjustment.

During the meeting of March 5 the participants were initiated in opportunity to register as subscribers on the home page of CSB so that to receive in their e-mail regular notifications on current events, for example, on CSB publications, press releases or information update in data bases available to public. Also attention of data users was drawn to information placed on the home page of the CSB on order of statistical data dissemination when making transition to the new Statistical Classification of Economic Activities in the European Community NACE Rev. 2.

Prepared by Macroeconomic Statistics Department

Tel. 67366844

Dace Tomase