Price-adjusted GDP and the practice followed by the Institutes in the Joint Economic Analysis

Since the comprehensive revision of the National Accounts System in spring 2005 with its change-over to fixed prices based on the previous year, the Federal Statistical Office now presents real results primarily in the form of chained indices. In their Joint Economic Analysis, the economic research institutes publish real forecasting values on the basis of chained absolute values. This article presents the two concepts and discusses their pros and cons.