Comprehensive revision of the Canadian System of Macroeconomic Accounts

November 10, 2015

OTTAWA — Beginning November 10, 2015, Statistics Canada will publish revised data for several important economic indicators, including gross domestic product, labour productivity and balance of payments, as well as provincial and territorial economic accounts.

These revisions to data in the Canadian System of Macroeconomic Accounts span more than 30 years and include the most recent reference period.

The revised data are the result of a three-year project to more closely align the Canadian system with new international standards for macroeconomic accounts released in 2009 by international bodies, including the United Nations and the International Monetary Fund.

This strategy is in line with Statistics Canada's goal of maintaining the accuracy and relevance of its economic accounts. It will also advance Canadian economic data's international comparability, ensuring that they are compiled using the latest methodological advances. The revisions will include:

  • Changes to the treatment of defined benefit pension plans;
  • Incorporation of natural resource wealth into the quarterly national balance sheet account;
  • Statistical changes resulting from the incorporation of higher quality and more detailed estimates of government revenues, expenses, assets and liabilities; and
  • Statistical changes resulting from the incorporation of revised estimates of Canada's capital stock.

Regular users of Statistics Canada data are invited to familiarize themselves with the new concepts and data sources, which are fully explained on our website in the paper entitled "A preview of the 2015 comprehensive revision of the Canadian System of Macroeconomic Accounts."

Texts for these economic indicators, published in The Daily—Statistics Canada's official release bulletin—will reflect these new terms. Additionally, both The Daily and CANSIM, the Agency's database, will include new-look tables.

Here is the timetable for release of the revisions:

November 10, 2015: Provincial and territorial GDP by income and by expenditure - 1981 to 2014.

November 10, 2015: National and provincial supply and use tables – 2010 to 2012.

November 10, 2015: Provincial and territorial GDP by industry - 2007 to 2014 (to be followed with 1997 to 2006 on December 15).

November 17, 2015: Canadian government finance statistics - 2007 to 2013.

November 24, 2015: Provincial and territorial labour productivity by industry - 1997 to 2014.

November 24, 2015: Capital Stock and consumption of fixed capital - 1961 to 2014.

November 30, 2015: Balance of payments - first quarter 1981 to third quarter 2015.

December 1, 2015: Quarterly Gross domestic product by income and by expenditure; current and capital accounts - first quarter 1981 to the third quarter 2015.

December 1, 2015: Gross domestic product by industry - January 1997 to September 2015.

December 4, 2015: Labour productivity for the business sector, first quarter 1998 to third quarter 2015.

December 11, 2015: International investment position - 1981 to 1989; and first quarter 1990 to third quarter 2015.

December 14, 2015: Financial flow accounts, first quarter 1981 to the third quarter 2015.

December 14, 2015: National balance sheet accounts first quarter 1990 to the third quarter 2015.

December 15, 2015: Provincial and territorial GDP by industry - 1997 to 2006 (preceded by 2007 to 2014 on November 10).

For more detailed information, please consult the backgrounder.

For more information, contact Media Relations at 613-951-4636.

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