National Accounts: Quarterly

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National Accounts, Climate and Environment, Economic Statistics
Oliver Nygaard Sørensen
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National Accounts Quarterly 2025 Quarter 2

The quarterly national accounts provide a comprehensive and up-to-date description of the economy and its development. The main focus is on short-term economic fluctuations, making it particularly useful for business cycle analysis, assessing economic conditions, and as a basis for economic models and forecasts. The statistics describe the economy as a whole, including transactions between households, businesses, and institutions, as well as transactions between Denmark and abroad. It has been compiled since 1988 and is fully comparable from first quarter 1990.

Statistical presentation

The quarterly national accounts provide an overview of short-term activities and developments in the Danish economy. The quarterly national accounts include figures for key aggregates such as gross domestic product (GDP), private consumption, public consumption, investment, exports and imports, employment and wages, as well as profits and productivity across different industries. In addition, quarterly figures are available for a wide range of subcategories that can shed light on business cycle developments in the economy.

Statistical processing

The quarterly national accounts are compiled based on almost all short-term statistics that describe sub-areas of the economy and employment. When the first estimate for a given period is prepared, not all information for that period is yet available. The calculations are therefore based on the structure of the recent final national accounts, which are projected using indicators from, for example, short-term statistics. As new sources become available, they are gradually incorporated into the quarterly national accounts according to a fixed schedule.

Relevance

The quarterly national accounts are relevant for anyone working with short-term and cyclical macroeconomic conditions. The use of the quarterly accounts ranges by the economic ministries for planning, analysis, forecasting, and modelling purposes, to similar uses by business organisations and other interest groups, as well as for the public’s interest in understanding the structure and development of the economy.

Feedback from users is continuously evaluated through the Economic Statistics user Committee, user group meetings, direct contact with users, and through international forums.

Accuracy and reliability

The quarterly national accounts’ ability to accurately describe the economic reality depends partly on the uncertainty associated with the sources. Some areas are measured more precisely than others due to better source data. Initial releases may lack data or be preliminary, and errors in sources or their combination with the national accounts system can affect reliability. Unforeseen economic shocks can increase uncertainty, but the accounts system’s consolidation of information helps reduce it.

Timeliness and punctuality

The first version of the quarterly national accounts is published 50 days after the end of the quarter, and a revised version is published 90 days after the end of the quarter. In connection with the publication of the fourth quarter at the end of February, the first version of the annual national accounts is also released. The national accounts are published on schedule.

Comparability

The quarterly national accounts follow international guidelines (ESA 2010, implemented in 2014) and are comparable across countries. They cover all parts of the economy, and most economic statistics have their counterpart here. However, caution is advised when comparing with other statistics due to differences in definitions and coverage. The national accounts are fully consistent with the balance of payments and general government.

Accessibility and clarity

The quarterly national accounts statistics are published in the StatBank under Economy and National accounts. The publications are accompanied by Danish press releases - in Danish.