ESA 2010 shifts level of EU and euro area GDP upward, growth rates almost unaffected

October 2014 is the first month that EU countries have to report data based on the revised regulation on the European System of National and Regional Accounts, known as ESA 2010.

The European system of accounts 2010 (ESA 2010) provides a revised set of concepts, definitions, classifications and accounting rules that enable the EU Member States to produce consistent, reliable and comparable statistical descriptions of their economies. For most Member States the implementation of the ESA 2010 guidelines is accompanied by the incorporation of statistical improvements in their data. While these changes give rise to shifts in the GDP levels of most Member States, growth rates have been almost unaffected.

ESO: Background information: Questions and Answers: European System of Accounts 2010 http://www.europeansources.info/record/memo-questions-and-answers-european-system-of-accounts-2010/

EUObserver, 17.10.14: Sex and drugs drive EU growth surge http://euobserver.com/news/126110

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