Always interesting to read how different countries calculate their economic outputs, particularly GDP. This recent news article covers some changes to the Chinese GDP calculations with aspects relating to seasonality.
The relevant bits are:
“Now, China is calculating GDP based on economic activity of each quarter to make the data “more accurate in measuring the seasonal economic activity and more sensitive in capturing information on short-term fluctuations”, the NBS said.
Previously, China’s quarterly GDP data, in terms of value and growth rates, was derived from cumulated figures rather than economic activity of that particular quarter, the bureau said.”
Always good to go back to the original source which seems to be at: http://www.stats.gov.cn/english/PressRelease/201509/t20150908_1241554.html
in the sections
“1.4.1 Preliminary Accounting
As China’s quarterly GDP accounting is cumulative before 2015, the GDP preliminary accounting of 1-4 quarters is annual GDP preliminary accounting. Since the third quarter of 2015, China’s quarterly GDP accounting is completed quarterly, which means calculating the GDP of four quarters respectively, and totaling them up to produce the annual GDP preliminary accounting results. Annual GDP preliminary accounting is accomplished before 20 January. “
Would be curious to see some time series analysis of the outputs, or how they may deal with any changes in seasonality at this switch over.