National Institute of Statistics, Italy

Data source(s) used: The 19th October 2011 Istat released the new annual series of national accounts based on the most updated versions of the classification of economic activities (Ateco 2007, the national version of Nace Rev. 2) and of products by activity (CPA 2008). At the same time, as in other European countries, the time series of national accounts have been subjected to an extraordinary revision, exploiting advances in methods and sources (e.g. the new balance of payments estimates issued by the Bank of Italy).Compensation of employees, wages and salaries and social security contributions:Compensation of employees (D1) is defined as the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during the accounting period. Compensation of employees is broken down into: wages and salaries (D11): wages and salaries in cash; wages and salaries in kind; employers’ social contributions (D12): employers’ actual social contributions (D121); employers’ imputed social contributions (D122).Gross value added: Gross value added is the value of output less the value of intermediate consumption; it is a measure of the contribution to the economic growth in terms of new goods and services available for final consumption.Gross value added at basic prices: Gross value added at basic prices is output valued at basic prices less intermediate consumption valued at purchasers’ prices. The basic price is the amount receivable by the producer from the purchaser for a unit of a product or service minus any tax on the product plus any subsidy on the product.

Data source(s) used: The 19th October 2011 Istat released the new annual series of national accounts based on the most updated versions of the classification of economic activities (Ateco 2007, the national version of Nace Rev. 2) and of products by activity (CPA 2008). At the same time, as in other European countries, the time series of national accounts have been subjected to an extraordinary revision, exploiting advances in methods and sources (e.g. the new balance of payments estimates issued by the Bank of Italy).Compensation of employees, wages and salaries and social security contributions:Compensation of employees (D1) is defined as the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during the accounting period. Compensation of employees is broken down into: wages and salaries (D11): wages and salaries in cash; wages and salaries in kind; employers’ social contributions (D12): employers’ actual social contributions (D121); employers’ imputed social contributions (D122).Gross value added: Gross value added is the value of output less the value of intermediate consumption; it is a measure of the contribution to the economic growth in terms of new goods and services available for final consumption.Gross value added at basic prices: Gross value added at basic prices is output valued at basic prices less intermediate consumption valued at purchasers’ prices. The basic price is the amount receivable by the producer from the purchaser for a unit of a product or service minus any tax on the product plus any subsidy on the product.Gross value added at producers' prices: Gross value added at producers’ prices is output valued at producers’ prices less intermediate consumption valued at purchasers’ prices. The producer price is the amount receivable by the producer from the purchaser for a unit of a product minus value added tax (VAT), or similar deductible tax, invoiced to the purchaser.Gross value added at factor cost: Gross value added at factor cost is derived from GVA at basic prices by subtricting other taxes on production and adding other subsidies on production.Output: Output consists of the products created during the accounting period. Three types of output are distinguished: market output; output produced for own final use; other non-market output.Output at basic prices: Output is at basic prices when it is valued by subtricting taxes on products and including subsidies on products.Output at producers' prices: Output at producers' prices is the output at basic prices plus taxes on products, excluding VAT, and minus subsidies on products.Output at factor cost: Output at factor cost is valued by subtracting taxes and including subsidies.Taxes on production and on products (except VAT and import taxes):they consist of compulsory, unrequited payments, in cash or in kind which are levied by general government, or by the Institutions of the European Union, in respect of the production of goods and services, the employment of labour, the ownership or use of land, buildings or other assets used in production. These taxes are payable whether or not profits are made.Subsidies on products and on production: are current unrequited payments that government units, including non-resident government units, make to enterprises on the basis of the levels of their production activities or the quantities or values of the goods or services which they produce, sell or import.

Data source(s) used: The 19th October 2011 Istat released the new annual series of national accounts based on the most updated versions of the classification of economic activities (Ateco 2007, the national version of Nace Rev. 2) and of products by activity (CPA 2008). At the same time, as in other European countries, the time series of national accounts have been subjected to an extraordinary revision, exploiting advances in methods and sources (e.g. the new balance of payments estimates issued by the Bank of Italy).Compensation of employees, wages and salaries and social security contributions:Compensation of employees (D1) is defined as the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during the accounting period. Compensation of employees is broken down into: wages and salaries (D11): wages and salaries in cash; wages and salaries in kind; employers’ social contributions (D12): employers’ actual social contributions (D121); employers’ imputed social contributions (D122).Gross value added: Gross value added is the value of output less the value of intermediate consumption; it is a measure of the contribution to the economic growth in terms of new goods and services available for final consumption.Gross value added at basic prices: Gross value added at basic prices is output valued at basic prices less intermediate consumption valued at purchasers’ prices. The basic price is the amount receivable by the producer from the purchaser for a unit of a product or service minus any tax on the product plus any subsidy on the product.Gross value added at producers' prices: Gross value added at producers’ prices is output valued at producers’ prices less intermediate consumption valued at purchasers’ prices. The producer price is the amount receivable by the producer from the purchaser for a unit of a product minus value added tax (VAT), or similar deductible tax, invoiced to the purchaser.Gross value added at factor cost: Gross value added at factor cost is derived from GVA at basic prices by subtricting other taxes on production and adding other subsidies on production.Output: Output consists of the products created during the accounting period. Three types of output are distinguished: market output; output produced for own final use; other non-market output.Output at basic prices: Output is at basic prices when it is valued by subtricting taxes on products and including subsidies on products.Output at producers' prices: Output at producers' prices is the output at basic prices plus taxes on products, excluding VAT, and minus subsidies on products.Output at factor cost: Output at factor cost is valued by subtracting taxes and including subsidies.Taxes on production and on products (except VAT and import taxes):they consist of compulsory, unrequited payments, in cash or in kind which are levied by general government, or by the Institutions of the European Union, in respect of the production of goods and services, the employment of labour, the ownership or use of land, buildings or other assets used in production. These taxes are payable whether or not profits are made.Subsidies on products and on production: are current unrequited payments that government units, including non-resident government units, make to enterprises on the basis of the levels of their production activities or the quantities or values of the goods or services which they produce, sell or import.

Data source(s) used: The 19th October 2011 Istat released the new annual series of national accounts based on the most updated versions of the classification of economic activities (Ateco 2007, the national version of Nace Rev. 2) and of products by activity (CPA 2008). At the same time, as in other European countries, the time series of national accounts have been subjected to an extraordinary revision, exploiting advances in methods and sources (e.g. the new balance of payments estimates issued by the Bank of Italy).Output deflator at factor costs:is given by the ratio between the current price production at factor costs and the chain linked production (measured at factor costs) with reference year 2005.Input deflator at factor costs: is given by the ratio between the current price intermediate costs at factor costs and the chain linked intermediate costs (measured at factor costs) with reference year 2005.Unit labour cost:is given by the ratio between ‘Compensation of employees’ and production.Unit variable costs:are given by the ratio between the sum of unit labour costs and intermediate consumption and production.Mark-up:is given by the ratio between the output deflator and the unit variable costs.

Data source(s) used: The 19th October 2011 Istat released the new annual series of national accounts based on the most updated versions of the classification of economic activities (Ateco 2007, the national version of Nace Rev. 2) and of products by activity (CPA 2008). At the same time, as in other European countries, the time series of national accounts have been subjected to an extraordinary revision, exploiting advances in methods and sources (e.g. the new balance of payments estimates issued by the Bank of Italy).Labour input: the main definitions on labour inputs (ESA95) concern persons employed, jobs and full time equivalent. In the system of national accounts, these concepts are defined on the base of economic territory and centre of interest. Labour inputs have to be classified on the base of the economic activity unit at local level and of the institutional unit. The Italian approach to the labour inputs estimates allows to calculate the jobs and the corresponding full time equivalent, that represent the transformation to full-time of jobs for different working categories (registered, unregistered, main, multiple) detectable by integrating and comparing different statistical sources or by using indirect estimating methods.

Data source(s) used: The 19th October 2011 Istat released the new annual series of national accounts based on the most updated versions of the classification of economic activities (Ateco 2007, the national version of Nace Rev. 2) and of products by activity (CPA 2008). At the same time, as in other European countries, the time series of national accounts have been subjected to an extraordinary revision, exploiting advances in methods and sources (e.g. the new balance of payments estimates issued by the Bank of Italy).Labour input: the main definitions on labour inputs (ESA95) concern persons employed, jobs and full time equivalent. In the system of national accounts, these concepts are defined on the base of economic territory and centre of interest. Labour inputs have to be classified on the base of the economic activity unit at local level and of the institutional unit. The Italian approach to the labour inputs estimates allows to calculate the jobs and the corresponding full time equivalent, that represent the transformation to full-time of jobs for different working categories (registered, unregistered, main, multiple) detectable by integrating and comparing different statistical sources or by using indirect estimating methods.