2012年-ECB欧洲央行_Revised_activity_classification_NACE_in_national_accounts_3页_193kb

Box 7: Revised Activity Classification (NACE) in National Accounts

Core Content

This document outlines the transition from NACE Rev. 1.1 to NACE Rev. 2 in the context of national accounts and its implications for economic data reporting. The changeover was implemented in the third quarter of 2011, with the updated classification becoming the mandatory framework for European statistics, including national accounts, short-term business statistics, and labour market data.

Main Points

• NACE Rev. 2 replaces NACE Rev. 1.1 as the standard for economic activity classification in the European Community, aligning with the International Standard Industrial Classification (ISIC).
• The transition was part of a three-year process and marked a significant update to the statistical framework used for economic data.
• The Monthly Bulletin now uses data based on the A10 industry breakdown, which provides a more detailed analysis of economic activities, especially in the services sector.
• The new classification allows for more granular breakdowns of specific sectors such as:
  • Information and communication
  • Finance and insurance
  • Real estate
  • Professional, scientific, and technical activities
  • Administrative and support service activities

Key Implications

• Value Added, Employment, and Compensation of Employees are the main areas affected by the revision.
• The Euro area statistics section of the Monthly Bulletin now reports ten aggregates instead of six, offering a more refined view of economic activity.
• Some countries provided timely data in accordance with the new classification by September 2011, while others delayed, resulting in incomplete data and a postponed release.
• By September 2012, the changeover is expected to be fully complete, with additional data covering periods before 2000 becoming available for all countries.

Data Availability and Revisions

• The compensation of employees breakdown and detailed national annual data by industry still require improvement.
• Revisions in quarterly main aggregates after the introduction of NACE Rev. 2 are reported in Table B, showing:
  • GDP, chain-linked volume had an average revision of 0.02 percentage points.
  • Industry including construction showed a larger revision (0.05 percentage points), especially in total hours worked and compensation of employees.
  • All services had a negative average revision of -0.03 percentage points.
  • Employment data were virtually unaffected.
  • Total hours worked and compensation of employees were the most affected, with revisions up to 0.12 percentage points and 0.10 percentage points, respectively.
• The average annual change for GDP was 0.86 percentage points, while for services it was 0.53 percentage points.

Conclusion

The transition to NACE Rev. 2 enhances the detailed analysis of economic activities, particularly in the services sector, and aligns national accounts with short-term indicators. Although the overall impact on annual changes is minimal, industry and services data show smaller revisions, especially in hours worked and compensation of employees. The changeover is expected to be fully implemented by September 2012, with longer time series becoming available. Continuous improvements and further revisions may occur in the coming months, especially for compensation of employees data.