Glossary:Benchmarking
Benchmarking refers to the case where there are two sources of data for the same target variable with different frequencies, and is concerned with correcting inconsistencies between the different estimates, e.g. quarterly and annual estimates of value-added from different sources.
Benchmarking is generally done retrospectively, as annual benchmark data are available some time after quarterly data. Nevertheless, benchmarking does have a forward-looking element, in that the relationship between the benchmark and the indicator data (benchmark: indicator ratio) is extrapolated forward to improve quarterly estimates for the most recent periods for which benchmark data are not yet available.