Relevance

User Needs

The Producer Price Index for Services are used as a deflator, primarily by National Accounts, to adjust nominal GDP to real GDP (or GDP at constant prices).

The indices also act as key economic indicators and for contract regulation purposes by public and private decision-makers for assessing the socio-economic development. International organizations, such as IMF and the World Bank, use the indicator for international comparison. Eurostat requires certain indicators to be produced to provide harmonized statistical information from the European Union member states.

User Satisfaction

The primary user of this statistic is the Danish National Accounts. For this reason, the main purpose of the statistics is as a deflator for constant price calculations. This main purpose means that certain transactions, e.g. transfer prices, are included which would not be otherwise included for a purely inflationary measure. There is regular dialogue with National Accounts, in relation to quality and user satisfaction.

There are also external decision-makers who use the statistics for contract regulation, as well as to monitor the price developments in the published indices. Statistics Denmark is on a regular basis in contact with these users, and attempt to meet any requests to the extent which it is possible, keeping in mind that the primary purpose is for deflation.

Periodically, Statistics Denmark holds a committee meeting with users of price indices. The committee meetings are held in cooperation with the consumer price indices, as well as statistics for purchasing power parities and price level indices. It should be noted, however, that the last meeting was held in 2015. Members of the committee are: the Ministry of Finance the Ministry of Economic Affairs and the Interior; The Danish National Bank and the Danish Competition and Consumer Authority. Membership of the committee is updated on a needs basis.

Data completeness rate

Some industry indices are not published due to confidentiality reasons or because they are under development. The statistic is covered by requirements from the EU in terms of industry coverage, level of detail, frequency and publication times. Statistics Denmark meets all these requirements. The published index meets all requirements of current regulations. Statistics Denmark also produces a new index meeting the requirements of a new regulation that enters into force as of the 1st quarter 2023 and as described in section 2.13. The new indices are produced and sent to Eurostat, but are not published by Statistics Denmark. In addition, Statistics Denmark is actively participating in explorative work, expanding the number of industries covered by Producer Price Index for Services.