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[C] - Gross fixed capital formation in construction and IPP at national and regional level, at current prices and previous year's prices
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Description
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The process is aimed at estimating gross fixed capital formation in construction and in intellectual property products (IPPs), including research and development, software and databases, mineral exploration and evaluation, entertainment, literary and artistic originals, and other intellectual property products, in accordance with the classification of the European System of Accounts (ESA 2010). These aggregates are components of gross fixed capital formation and contribute to the measurement of gross fix capital formation in the national economy. The process also produces the corresponding price indicators and regional estimates required for the compilation of national and regional accounts.
The estimates are produced through the integration of statistical, administrative sources and are subject to control, validation and reconciliation procedures aimed at ensuring their internal consistency and their compatibility with the overall framework of National Accounts.
For construction, estimates are compiled separately for residential buildings, non\-residential buildings and civil engineering works. The process considers the private and public components of investment separately. For the private component, information from statistical and administrative sources is used. The main sources include building permits statistics, structural business statistics, tax records relating to enterprises and households, and companies¿ financial statements. The public component is estimated on the basis of the accounts and financial reports of central and local government units and other institutional units classified within the General Government sector (S13). All available evidence is integrated through a reconciliation and balancing process aimed at ensuring consistency between investment estimates and National Accounts estimates of construction output.
For intellectual property products, estimates are compiled separately for market acquisitions and own\-account production. The estimation of the various components is based on the integrated use of statistical surveys, structural business statistics, administrative sources, corporate financial statements and other sector\-specific sources, selected according to the economic and productive characteristics of the activities concerned. For each product category, specific estimation procedures are developed in accordance with the definitions and methodological recommendations set out in ESA 2010 and the relevant Eurostat methodological manuals.
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Eurostat type of process classification
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National Account statistical compilation
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First production year
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1970
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