Greece - Wage & Salaries

For Greece, the quarterly national accounts including the expenditure, income and production approaches.

In accordance with the International Monetary Fund's website: Data are disseminated in millions of Euro on GDP at current prices and chain-linked volume measures for the expenditure and production approach. Only data at current prices are produced for the income approach.

The following GDP breakdowns are disseminated:

1. Production: nominal and real results for GVA according to A64 classification.
2. Expenditure: nominal and real results for all expenditure components.
3. Income: nominal results for compensation of employees by industry (A64), gos, taxes and subsidies.

Active:

• Framework: ESA 2010
• Classification: NACE Rev. 2
• Measurements:
  • Millions of euros at chained year-2015 prices (Mil. Ch. 2015 EUR)
  • At current prices (Mil. EUR)
• Adjustments:
  • Seasonally adjusted (SA)
  • Not seasonally adjusted (NSA)
• Native frequency: Quarterly
• Start date: 1995Q1

Predecessors:

• ESA 2010 at 2010 prices - 1995 to 2020
• ESA 95 at 2005 prices - 2000 to 2014
• At 2000 prices - 2000 to 2011
• At 1995 prices, revised - 1995 to 2007
• At 1995 prices - 1995 to 2006

The source writes:

Analytical framework

The data is reported along the framework of the European System of Accounts (ESA) and the classification follows the most recent revision of NACE.  

Data scope

The quarterly national accounts compile the GDP using a combination of production, expenditure and income approach.  It covers all transactions within the ESA framework and covers the entire economy of Greece.

Data sources

Production approach is a short-term survey used to compile output estimates.  This includes indicators like industrial production index and turnover statistics for service industries, for example, wholesale and retail trade and food and accomodation services, transport and other services.  

Expenditure approch or Housdolds' final consuption expenditure is compiled using short-term retail trade statistics and commodity flow methods.  Examples include:

• CPI - used for deflation
• General Government consumption expenditure
• Gross fixe capital formation (GFCF) - estimates for dwellings and other private buildings 
• Exports of Goods and services - External trade statistics of EL>STAT and uses consuption of goods and BOP data.

Compilation

Uses the general estimation method to compile quarterly accounts which are similar to the annual accounts.

The data are provisional when first released, and this status is indicated in the press release. The data are revised twice each year during the first and third quarter. The data become final when they are adjusted to the final annual accounts two years after their first release.

Any differences are on account of using new data, not available at the time of the flash estimate. These data are either monthly data (i.e. Balance of Payments) or quarterly data (i.e. turnover indices for the service industries, and labour force survey data).

Further reading

At the source:

• Revision policy

At IMF (SDDS):

• National accounts