Portugal - Real Private Consumption

For Portugal, quarterly national accounts, including the expenditure and production approaches to GDP and gross value added by industry, both nominal and real (i.e., at current and chained prices). Quarterly from 1995.

Active:

• National accounts framework: ESA 2010
• Activity classification:
  • Taxonomy: CAE-Rev. 3, the local adaptation of NACE Rev. 2
  • Aggregates: A*8
• Measurements:
  • Millions of euros at chained year-2021 prices (Mil. Ch. 2021 EUR)
  • At current prices (Mil. EUR)
• Adjustment: Calendar day adjusted and seasonally adjusted (CDASA)
• Native frequency: Quarterly
• Start date: Uniformly 1995Q1

Predecessors:

• 2016 prices - 1995Q1 to 2024Q2 ("_16")
• ESA 2010, 2011 prices - 1995Q1 to 2019Q2 ("_11")
• ESA 95, ref 2006 - 1995 to 2014 ("_06")
• ESA 95, ref 2000 - 1995 to 2009 ("00")

Global concept aliases:

• GDP, GDP$
• C, C$
• G, G$
• I, I$
• IF, IF$
• CIVT, CIVT$
• NETEX, NETEX$
• EX, EX$
• IM, IM$

GDP at market prices - the final result of the production activity of resident producer units. Defined three diferent ways as the sum of gross value added of various institutional sectors/industries,  the sum of final uses of goods and services by resident institutional units plus exports minus imports of goods and services and the sum of uses in the total economy generation of income account. 

Gross value added - (GVA) the balancing item of the production account. Uses output as a resource and intermediate consumption as a use. Valued at basic prices as it does not include taxes less subsides on production. 

Gross fixed capital formation - resident producer's acquisitions, less disposals, or fixed assets during a given period plus certain additions to the value of non-produced assets relized by the productive activity of producer or institutional units. 

The source uses a volume chain linked procedure for its quarterly national accounts data. This makes data comparable accross multiple years. 

Exports are expressed in F.O.B. terms.

Revisions to the quarterly national accounts data occur as part of a regular cycle of data releases and updates. The cycle consists of four main phases:

1. Provisional data release: Approximately 45 days after the end of the reference quarter, INE releases provisional estimates of the main macroeconomic aggregates (such as GDP, consumption, investment, and exports). These estimates are based on available data at the time, which may be incomplete or subject to revision.

2. First revision: About 90 days after the end of the reference quarter, INE publishes a first revision of the provisional estimates. This revision incorporates new and updated data sources that were not available at the time of the provisional release. The revision may also include methodological improvements or corrections.

3. Second revision: Around 150 days after the end of the reference quarter, INE issues a second revision of the quarterly data. This revision may incorporate additional data sources or methodological improvements that were not available at the time of the first revision.

4. Final data release: Approximately one year after the end of the reference quarter, INE publishes the final estimates of the quarterly national accounts data. These estimates are based on all available data sources and are considered to be the most accurate representation of the economy's performance during the reference period.

It's worth noting that the timing and frequency of revisions may vary depending on the availability and quality of data sources, as well as other factors such as changes in methodology or revisions to past data.

More information could be found here.

Further reading

At the source:

• Portuguese National Accounts - ESA 2010, base 2021
• ESA 2010, base 2016
• ESA 2010, base 2011
• ESA 95, base 2006

At IMF (SDDS Plus):

• Real sector - National accounts (Jan 2024 / Oct 2024)

• Sep 2005 - Initial version.
• Jun 2010 - Currency reference year advanced to 2006.
• Sep 2014 - Framework advanced to ESA 2010, currency reference year advanced to 2011.
• Dec 2019 - Currency reference year advanced to 2016.
• Dec 2024 - Currency reference year advanced to 2021: Properties, Global concept aliases.