Individual industries’ contribution to GDP is their total output minus their intermediate consumption (goods and services they used to make their products). In addition, certain series (mainly expenditure series) are deflated (presented in real terms) to estimate the volume of economic activity occurring within an accounting period. Changes in the quantities of goods and services produced and available for consumption, investment or export directly impact on New Zealanders’ welfare. The National Gross Domestic Product (GDP) by Income and by Expenditure Accounts give a comprehensive statistical picture of Canadian economic developments. Unofficial series going back to 1859 have been produced by a number of academics. One of the most frequent uses of PPPs is to compare GDP and GDP per capita levels across countries. The current price series are available from 1939, while constant price series have been produced since 1955. Flour purchased by a baker is an intermediate good. To measure the growth of the economy, analysts distinguish between that part of a change in current price GDP due to changes in quantities produced, and that due to price changes. The income and expenditure accounts record the distribution and use of income by the six main institutional sectors: households, non-profit institutions serving households, governments, non-financial corporations, financial corporations and non-residents. The value of gross national income, GNI, differs from that of GDP because it reflects the impact of domestic and international trade. The accounts are designed as a double-entry system in which the income- and expenditure-based GDP totals should, in principle, be identical. In fact, a difference virtually always arises between them due to errors in the source data, imperfect estimation techniques, differing seasonal adjustment methods and discrepancies in the time at which the incomes and expenditures are recorded. Goods and services can be divided into two categories: final, which is goods and services actually used or consumed by individuals and businesses; and intermediate, which is goods and services purchased for further use in the production process. In the 1970s and 1980s the rate of economic growth for New Zealand was below that of both Australia and the average of all OECD countries (a group of 30 developed economies). Subsequently – particularly during the 1970s and 1980s – the New Zealand economy grew at slower rates than most countries in the OECD, and the relative GDP per capita for New Zealand fell. Estimates for each quarter are revised when those for subsequent quarters of the same year are published. Instead purchasing power parities (PPPs) are used. In periods of high inflation, changes in current-price GDP alone do not show real quantity changes. At the time of the third quarter of each year, revisions are generally undertaken back three years. The National Gross Domestic Product by Income and by Expenditure Accounts respect the production boundary defined by the 2008 System of National Accounts. In the 1970s workers’ share of national income averaged 63% of NNDI, but this had fallen to an average 53% in the 2000 to 2007 period. In the first stage, goods and services are produced. Significant Order: An order to buy or sell a security that, due to its abnormally large size, has the potential to have a significant effect on a security's price. Various confidentiality rules are applied to all data that are released or published to prevent the publication or disclosure of any information deemed confidential. The account records whether a sector's current period savings are sufficient to meet its demand for funds (for investment). Dowie, J. Income – GDP(I). The gross domestic product for income (GDP(I)) is one of the three ways of calculating GDP. J. National income is an important indicator of how New Zealand’s economy is performing. With each version of the international SNA, Statistics Canada published a corresponding methodological guide to the GDP by Income and by Expenditure Accounts. After 1990 the situation changed, with the growth rate of the New Zealand economy above the OECD average. Comparing economic growth rates across countries is relatively straightforward because rates of change are compared, rather than actual gross domestic product (GDP) levels. The production aggregate, the gross domestic product (GDP), is a measure of domestic production, how much is produced within New Zealand. In 1976 New Zealand’s GDP per head was 5% below Australia’s, in 2006 it was 26% below. To understand the income, consumption and saving behaviour of resident New Zealanders, economists measure national income as distinct from domestic income – national income is the income New Zealanders earn and have available to spend or save.

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