|Unit||Bil. EUR, CDASA|
|Adjustments||Calendar Adjusted and Seasonally Adjusted|
|Capacity Utilization||2019 Q2||85.3||86.3||%, SA||Quarterly|
|Business Confidence||Apr 2019||99.2||99.7||Index 2015=100, SA||Monthly|
|Industrial Production||Mar 2019||104.6||104.2||Vol. Index 2015=100, CDASA||Monthly|
|Real Change in Inventories||2017 Q4||-5.2||-2.52||Bil. EUR, CDASA||Quarterly|
The European System of National and Regional Accounts (ESA 2010) is the newest internationally compatible EU accounting framework for a systematic and detailed description of an economy. The ESA 2010 was published in the Official Journal on 26 June 2013. It will be implemented as from September 2014; from that date onwards the data transmission from Member States to Eurostat will follow ESA 2010 rules.
The ESA 2010 differs in scope as well as in concepts from its predecessor ESA 95 reflecting developments in measuring modern economies, advances in methodological research and the needs of users. The structure of the ESA 2010 is consistent with the worldwide guidelines on national accounting set out in the System of National Accounts 2008 (2008 SNA). In order to support the application manuals and handbooks will be published by Eurostat.
The main methodological changes made under ESA 2010 are:
-Recognition that expenditure on research and development has the nature of investment. Research and development expenditure is recorded as gross fixed capital formation and no longer as current expenditure. This will increase EU gross domestic product by around 1.6%. The identification and treatment of research and development expenditure as investment is very important in the context of the Europe 2020 strategy.
-A more detailed analysis of pension schemes is presented. A compulsory supplementary table will transparently show the liabilities of all pension schemes, including those of government whether unfunded or funded, in order to improve comparability between countries.
The new ESA 2010 transmission programme will allow an improved monitoring of economic changes in the next 15 years.
Data is subject to revisions
For more information, please visit: http://epp.eurostat.ec.europa.eu/portal/page/portal/esa_2010/introduction