Data of growth and productivity measures were corrected
Date of correction:Statistics: Growth and productivity measures
Correction date: 29.6.2023 (at 8.00)
Description of the correction
There has been an error in the calculations of the capital input and data by character level industry of growth and productivity measures, for which reason the entire time series has been updated. There have been erroneous data in the database tables since October 2021, when the database tables were renewed.
See all database tables of the statistics in the StatFin database.
Correction of errors in calculation of capital input
The calculation of capital input has contained an error that has affected the database tables calculated using the output approach. In Table 138z -- Components of change in production the contribution of capital input to the change in output has been calculated erroneously, and because the contribution of multi-factor productivity to the change in output has been calculated as a residual from other contributions, it has also been revised when correcting the data.
Correspondingly, there has been an error in Table 138x -- Components of productivity change (production/hour worked) when calculating the contribution of capital intensity to labour productivity (output), which has correspondingly been reflected in the contribution of multi-factor productivity to labour productivity, which is calculated as a residual from other contributions. The correction has no effect on the total levels of output or productivity.
The following databases were updated on 29th June 2023:
Data by character level industry
The calculation of data by character level industry has contained an error in the used industry weights, for which reason the productivity development of character level industries has been more subdued than the real situation. The correction has no effect on the data on digit level industries or on the level of the whole economy.
The following databases were updated on 29th June 2023:
Changes in database tables
A column was added to database table 139a -- Labour input, capital input and their contribution weights, which contains data on the level of total economy in addition to industry-specific data. Thus, the change in the number of hours worked in productivity calculations, for example, can now be found on the level of the whole economy. In addition, the variables output and intermediate consumption were added to the table.
In future, only data on digit level industries are presented in Tables 138z -- Components of change in production and 138x -- Components of productivity change (production/hour worked), and character level industry and whole economy are empty. For these classification levels, it is recommended to use Table 138y -- Components of change in value added or 138w -- Components of productivity change (value added/hours worked).