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Latest Developments in the Canadian Economic Accounts
Renewing the Canadian System of National Accounts
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The majority of Canada's national, provincial and territorial macroeconomic indicators originate from the Canadian System of National Accounts (CSNA). These indicators include such things as gross domestic product, net worth, savings, personal disposable income and government debt.
Statistics Canada is launching a project that will make key changes to these macroeconomic indicators.
The changes introduced by this project include the following:
- An historical revision will introduce many important conceptual, statistical, methodological and classification changes into the CSNA that will result in a more relevant measure of annual estimates for national, provincial and territorial gross domestic product (GDP) and its components.
- An improved annual data release schedule and revision policy across the CSNA, including the release of annual estimates for GDP at the national, provincial and territorial levels.
- Increased timeliness of the final annual estimates of GDP.
- Modernized Input-Output Tables which are more reflective of the industrial structure of the Canadian economy.
Historically revised national, provincial and territorial data as well as the modernized Input-Output Tables will be released in calendar year 2012. By 2013 the annual national and the provincial and territorial data will be released concurrently, in May.
In order to achieve these objectives, a transition plan has been developed which includes modifications to the current annual data release schedule and revision policy.
The transition plan will start this April, with two notable changes to the release schedule.
First, estimates for provincial and territorial Income and Expenditure Accounts for the most current year, normally released in April, will be released in November. It should also be noted that preliminary data for provincial and territorial GDP by industry will still be made available in April.
Secondly, while two vintages of the national, provincial and territorial Input-Output Tables are normally produced (preliminary and final), only one vintage will be produced for reference years 2007 and 2008.
The following tables outline the list of national and provincial and territorial annual economic data that will be released in each of the next four calendar years, along with the reference period of the release.
Statistics Canada has developed this plan in such a way that it will not reduce the amount of national, provincial or territorial economic data available to users, and minimizes any temporary reduction in timeliness of the data. Statistics Canada is committed to providing its users with regular updates regarding the status of this project, as well communicating any conceptual, methodological or classification changes well in advance of the release of the data, through various publications.
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