Statistics New Zealand is currently implementing the Australian and New Zealand Standard Industrial Classification (ANZSIC) 2006 into all industry based statistics. This is a multi-year work programme that will conclude in 2012.
ANZSIC was first developed by Statistics NZ and the Australian Bureau of Statistics in the 1990s to reflect the structure of Australian and New Zealand industries and improve comparability with other countries’ statistics. The new industry classification, ANZSIC 2006, aims to better present the current structure of the New Zealand economy and therefore helps to maintain the relevance of Statistics NZ economic statistics (Statistics NZ, 2008a).
The quarterly gross domestic product (GDP) accounts provide a timely measure of economic activity and are compiled using indicator data (Statistics NZ, 2008b). The annual National Accounts provide a comprehensive picture of economic activity over time. The annual accounts are reconciled in the supply and use framework using industry, income, and commodity data. However, the accounts for the latest years are provisional and not balanced. Following data confrontation and reconciliation in the supply and use framework, the balanced accounts data is introduced to the quarterly series. The underlying weights used to aggregate GDP are also updated and replace the previously published provisional data.