TIMELINESS
ABS aims to release the quarterly national accounts on the first Wednesday of the third month following the quarter. Although there is some variation in country practice, most also aim to release quarterly GDP and components around 60-70 days after the end of the quarter. Countries in the euro area aim to release estimates of GDP growth earlier (around 45 days after the end of the quarter). Some countries also produce preliminary or 'flash' estimates much earlier based on indicator data such as monthly production indexes. Australia has not followed this approach. Countries make different judgements about the benefit gained from preliminary or flash releases compared with the potential costs of impaired accuracy and greater revisions. Operational considerations are also relevant.
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