Ministry of Finance, Statistical Service



23/03/2009
NEW ACTIVITY CLASSIFICATION AND NEW BASE YEAR IN SHORT TERM INDICATORS
23/03/2009

Based on Regulations of the European Union and following the international practice of constantly improving the quality of statistics, the activity classification and the base year of monthly and quarterly indices are changing. Starting with data published for reference month January 2009 and reference quarter Q1 2009, the changes affect the following indicators:

  • Index of Industrial Production
  • Turnover Index by Main Industrial Groupings
  • Turnover Index in Industry
  • Industrial Output Prices Index
  • Production Index in Construction
  • Output Prices Index in Construction
  • Index of Labour Cost in Construction
  • Price Index of Construction Materials
  • Price Index for Selected Input Materials in Construction
  • Transport - Turnover Value Index
  • Turnover Value Index of Retail Trade
  • Turnover Volume Index of Retail Trade
  • Turnover Value Index of Wholesale Trade and Commission Trade
  • Turnover Value Index of Sale and Repair of Motor Vehicles and Retail Sale of Automotive Fuel
  • Services - Turnover Value Index

The new statistical classification of economic activities is NACE rev. 2 replacing NACE rev 1.1. New concepts at the highest level of the classification have been introduced, and new detail has been created to reflect different forms of production and emerging new industries. At the same time, efforts have been made to maintain the structure of the classification in all areas that do not explicitly require change based on new concepts. Details on the structure of NACE rev. 2 are available on CYSTAT’s web site following the link: NACE rev. 2. A correspondence table showing the main changes at section level, from revision 1.1 to revision 2, is attached.

Indices will now be based on 2005, replacing base year 2000. Consequently, 2005 is the year where the average of the months / quarters of the index equals 100,00. An integral part of the rebasing process is the updating of the samples of enterprises and of products (in the case of price indices) participating in index calculations. At the same time, the weights of the various activities composing the levels of the classification are changing to reflect within the calculations the recent structure of the economy.

The occurring changes are not expected to affect substantially past results on the various divisions like Manufacturing, Construction etc. More information and data for each section can be found in Press Releases & News and in Key Figures published under the field Statistical Themes on CYSTAT´s website.





Correspondence table between sections of NACE Rev 1.doc







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