Best Change

Definition

Best Change. Best change is the most accurate measure of period-to-period movement in an economic statistic using the best available source data.

Because the levels of economic time series are revised according to schedules, newly available source data are frequently incorporated on a best-change basis, rather than waiting until a benchmark or annual revision. Best-change is the method used in the NIPAs and annual industry accounts to prepare time series estimates.

The best-change procedures are necessary because of the differences in the revision schedules for the statistical programs upon which the accounts are based.