Common use of Volume estimates Clause in Contracts

Volume estimates. QNA volume data are published as a chain-linked series at the reference year 2015 prices. The growths compared with the previous period and the corresponding period of the previous year are published as QNA volume data. These are constructed with the annual overlap method, in which volume estimates at the average prices of the previous year are used. The index type used for the measurement of volumes is the Laspeyres index. Quarterly GDP at current prices and at previous year’s prices is estimated by the production and expenditure base. Quarterly value added at previous year’s prices is compiled using the double deflation method. The preferred approach is the deflation product-by-product. In order for the quarterly data to be consistent with the annual national accounts, the annual overlap method was chosen. The variables of chain-linked volumes are non-additive (a chain- linked volume of GDP is not equal to the sum of its components). For logical reasons, the differences arising in the chain links are not eliminated by calculation. To ensure consistency between the QNA and ▇▇▇ ▇▇▇▇▇ and volume measures, the ANA measures are derived from the quarterly measures. Consistency with SUT is achieved by using the ▇▇▇▇▇▇ benchmarking techniques for QNA data.