National Accounts (Income and Expenditure): Year ended March 2018

Period-specific information This release contains revisions arising from new and updated information. It incorporates National Accounts (Industry Production and Investment): Year ended March 2017 statistics and new and improved information. Estimates for 2018 are provisional Figures for the year ended March 2018 are provisional, and incomplete for the business sectors of the economy. We will incorporate more up-to-date information in future releases. The new information will also affect distributions between the business and household sectors and flow into household saving. National Accounts (Income and Expenditure): Year ended March 2019 will provide provisional estimates for the March 2019 year and revised estimates for the March 2017 and 2018 years. Revisions to the national accounts next year will result from up-to-date information becoming available, including updated data from the Annual Enterprise Survey: 2017 financial year (provisional) and initial inclusion of detailed results from the 2018 Annual Enterprise Survey. Statistics for the years up to 2017 are consistent with National Accounts (Industry Production and Investment): Year ended March 2017. Changes in our status flags Each year we make revisions arising from new and more up-to-date information. To alert users to these changes, we will now use the status flag ‘R’ (or ‘revised’) for all data that has revised since the previous release. The following table summarises the status flags that are used in Infoshare and the published csv files for the National Accounts (Income and Expenditure): Year Ended March 2018 release: Infoshare Published CSV file Description C CONFIDENTIAL Data contains sensitive information and is unable to be released – to preserve confidentiality of individual businesses P PROVISIONAL Data is provisional and has not been balanced R REVISED Data has been revised from previous release S - Data is suppressed as the sample error or confidence level of the data is too low (no status flag displayed) FINAL Data has been balanced and is unchanged from previous release We periodically bring in new data sources or make methodology improvements in our national accounts work. To retain coherence in our time series of data, such changes may require adjustments to historical values. Therefore, data values with a FINAL status may be revised in future releases. Revisions This release contains revisions to annual national accounts arising from new and more up-to-date information. The revisions include: incorporation of up-to-date information from the 2016 annual economic survey an extra year of balanced national accounts data, with goods and services reconciled up to the March 2017 year updated investment data, reflecting a reallocation of investment values between the private and public sectors to be more consistent across institutional sector breakdowns revisions to household expenditure data, incorporating changes from education-related travel services and the Retail Trade Survey trade data revisions, including education-related travel services and improved coverage of cruise traveller expenditure updated treatment of Emissions Trading Scheme transactions for all years from 2011 In addition, the institutional sector accounts also include the following updates for years 2014 to 2017: corrected estimates of entrepreneurial income for 2014 to 2016 updated tax data incorporation of up-to-date balance of payments data incorporation of up-to-date information from the annual economic surveys and other data sources, with reconciliation of financial flows, such as interest and dividend payments and receipts, between all sectors up to 2017 See the 2018 national accounts improvements preview for more information on the above changes. Revisions to National Accounts (Industry Production and Investment) The revisions to National Accounts (Industry Production and Investment) – formerly National Accounts (Industry Benchmarks), result from balancing the production and expenditure estimates of GDP within a supply-and-use framework. The annual national accounts sources and methods has more information on this. Revisions to balance of payments Balance of Payments and International Investment Position: Year ended 31 March 2018 included revisions to overseas investment income, which are included in this release. Revisions of note came from updated Inland Revenue data from the latest tax returns for companies, individuals, and other relevant units. See the 2018 revisions to balance of payments and national accounts for balance of payments revisions and an evaluation of their impact. Revisions to national saving from new and improved information National saving revisions summary Year ended March National saving in current price, $(million) Published Nov 2017 Published Nov 2018 2016 16,360 16,499 2017 19,765 18,495 Revisions to household saving from new and improved information Household saving revisions summary Year ended March Household saving in current price, $(million) Published Nov 2017 Published Nov 2018 2014 123 427 2015 -1,964 -1,365 2016 -1,795 -921 2017 -4,122 159 en-NZ