4 ANNEXES

4.1 ANNEX 1: DATA ISSUES

4.1.1 ANNUAL DATA

Annual sectoral value added and employment
data were collected on the basis of the OECD
Structural Analysis (STAN) database (cut-off
date: September 2003) and supplemented where
appropriate with input from NCBs. The
following two tables summarise the data issues
related to sectoral annual data used in the report.
Table 13 and Table 14 provide information on
data availability and sources of value added at
constant price and employment variables. A list
of the sectors used to calculate the different
indicators presented in Section 2 is also
provided, as well as the definition used to proxy
low, medium-low, medium-high and high
technology intensity classification.

Caveats concerning the difficulties of
measuring output in the service sector must be
borne in mind and caution is required when
interpreting the different indicators in services.
Indeed, financial intermediation output
estimates are based on indicators of revenues,
stock market volume traded, issues of stocks
and bonds, mutual fund sales, some volume
indices such as the number of cheque account
transactions, and employment. In real estate and
business activities, output estimates are based
on occupancy rates and number of rooms, final
consumption expenditure of households on
dwelling rent, and VAT statistics from real
estate agencies.

The 11 sectors used for the whole economy
are the following: agriculture; mining;
manufacturing; electricity, gas and water; and

Table 13 Value added at constant prices

ECB

Occasional Paper No. 19
July 2004

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