Actions and Detail Panel
The use of automated balancing within United Kingdom National Accounts
Tue 2 May 2017, 14:30 – 15:00 BST
Supply and Use (SU) balancing is a data reconciliation exercise used by National Statistics Institutes to reconcile and adjust the many data sources feeding into the calculation of a single consistent estimate for the different measures of Gross Domestic Product (GDP). This process is traditionally implemented manually by NSI staff members. Many countries, including the Netherlands, the United States, Sweden, and Australia, are either using or developing automated solutions to improve the efficiency and quality of their SU balancing processes, building on academic work in this mathematical area.
This presentation will describe the UK’s proposed approach, explaining how and why it differs from other NSIs and the advantages and disadvantages of the method. Finally, it summarises results of the UK experience and the priorities for further developments in automated balancing.