Construction production index - Changes since 2018
Along with the release of results for January 2018 the base period for short-term statistics has been changed. This is a standard measure carried out every five years and co-ordinated within the European Statistical System. In the case of the construction statistics this change affected the indicator of the construction production index.
The change implies the following:
- the base period for fixed-base indices has been changed from the average of 2010 to the average of 2015;
- new weighting schemes, derived from results of the structural business statistics for 2015, are applied;
- new weights were used for recalculation of data back to 2014 in accord with the Methodology of Short-term Statistics, Interpretation and Guidelines of Eurostat. A revision of data for 2014-2017 was carried out as a result thereof; and
- data for 2000-2013 were connected to updated results by means of conversion bridges using the annual overlap method. It is characteristic for this method that after being connected the year-on-year 2014/2013 indices for the entire year cumulative data remain the same as at the original data and the course of the series for 2000-2013 does not change, i.e. the year-on-year indices remain unchanged after the interconnection. The change, however, brings a consequence that historical series before 2014 may not be aggregated by means of the current weighting scheme.
A standard revision of data for 2017 was carried out along with the recalculation.
Historical time series, which had been published by the end of 2017 and use the basis of 2010, are still available on the Czech Statistical Office website in the archives of the construction statistics time series.
Since January 2018 the seasonal adjustment has been performed by means of a new model of software JDEMETRA+.