Shorter Lead Time

The acceleration is possible because source statistics are available faster and the process has been accelerated. This reduces the lead time for the GDP quarterly estimate. The estimation method and level of detail remain unchanged. The acceleration also applies to certain labor market indicators published on the same day.

Faster Estimate with Quality Retained

The past quarters were used to extensively test the accelerated estimate. It showed that the revision between the estimate after 30 days and the second estimate, at 85 days, remains very limited. The absolute revision of the second estimate of economic growth relative to the first estimate, after 45 days, was on average 0.1 percentage points over the past five years (2019-2024). In the test phase, the average revision remained the same. This second estimate will continue to occur at the same times as before, 85 days after the end of each quarter.

Timings

As with previous estimates, labor market figures will be published at 6:30 am on April 30, followed by the economic growth estimate at 9:30 am. The labor market estimate is available under embargo, but the economic growth estimate is not.

More information about the background of the acceleration of the estimate of economic growth and labor market can be found in an interview with the project leaders of this project.