Gross fixed capital formation by enterprises; monthly

What does the indicator comprise?

Purpose

The purpose is to give quick information about developments in the volume of gross fixed capital formation in tangible assets by Dutch enterprises, households and non-profit institutions. Fixed capital formation is an important business cycle indicator.

Statistical unit

The volume of fixed capital formation in tangible assets by all enterprises, households and non-profit institutions.

Date first publication

The first month in the series is January 2005. Figures have been published since 20 September 2010.

Frequency

Monthly.

Publication strategy

Figures are published six to seven weeks after the month under review. The figures are year-on-year changes. All figures are available in StatLine, the electronic database of Statistics Netherlands. Furthermore, figures are published in the economic monitor.

Figures for 2008, 2009 and 2010 are provisional. All other figures are definite.

How are the figures computed?

Type of research

The year-on-year changes are computed with the aid of an econometric model. The following statistics are used as sources:
- Gross fixed capital formation in tangible assets according to the quarterly national accounts;
- Monthly construction turnover figures;
- Monthly figures on the production of electrical equipment and machinery;
- Monthly figures on imports of machines and transport equipment, adjusted for re-exports.

In the econometric model, the so-called “state space approach” is used to make a high frequency interpolation. For more detailed information, see the article "A monthly indicator of private fixed capital formation: a model based approach" van Van Ruth (2010)".

Survey methods

n/a. Only indirect sources are used.

Respondents

n/a.

Sample size

n/a.

Checking and correction methods

Figures are adjusted to the quarterly national accounts. Following every quarter, Statistics Netherlands reviews whether the first published figures of the monthly indicator correspond to the results in the quarterly national accounts.

Weighting

n/a.

Quality of the results

Accuracy

This indicator provides quick information about the development of fixed capital formation by enterprises, households and non-profit institutions. The first results usually correspond very well with the quarterly national accounts. However, in the first months after the first publication figures can be adjusted. After a few months, these adjustments become less substantial.

Sequential comparability

The methods used aim to guarantee comparability in time.

Quality strategy

Following every quarter, Statistics Netherlands reviews whether the first published figures of the monthly indicator correspond to the results in the quarterly national accounts.
If this is not the case, the model will be reviewed and, if necessary, adjusted.

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