Monday, August 7, 2017
Elstat suspends preliminary Greek GDP estimate after discrepancies
August 7, 2017
Greece’s statistical agency will no longer public “flash” estimates of the country’s gross domestic product after delays in data collection have led to frequent revisions of official growth figures.
Elstat said on Monday that its second quarter GDP estimate for 2017, which was due to be announced on August 14, would not be made public. Instead it said the provisional estimate, which is calculated using a bigger range of inputs from the economy, would be published on September 1 as scheduled.
The agency said it decided to suspend the flash estimate “in order to explore the availability of the necessary data sources that would help improve the consistency of the flash estimate.”
An Elstat official said some data used to calculate the flash estimate was incomplete, making revisions necessary when updated figures arrived.