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SUMMARY OF ISSUES EMERGING SINCE 2005 STESEG MEETING

SHORT-TERM ECONOMIC STATISTICS WORKING PARTY (STESWP) 26-28 JUNE 2006. SUMMARY OF ISSUES EMERGING SINCE 2005 STESEG MEETING. SUMMARY OF MAIN ISSUES EMERGING SINCE 2005 STESEG. Work arising out of STESEG Other work

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SUMMARY OF ISSUES EMERGING SINCE 2005 STESEG MEETING

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  1. SHORT-TERM ECONOMIC STATISTICS WORKING PARTY (STESWP) 26-28 JUNE 2006 SUMMARY OF ISSUES EMERGING SINCE 2005 STESEG MEETING

  2. SUMMARY OF MAIN ISSUES EMERGING SINCE 2005 STESEG • Work arising out of STESEG • Other work • Co-ordination of development work on business tendency and consumer opinion surveys with EC • Co-ordination of collection of short-term economic indicators with IMF, Eurostat • Development of OECD.stat and MetaStore systems • Issues related to CSTAT • Future issues / work for MEI?

  3. WORK ARISING OUT OF STESEG Work of STESEG task forces • Task force on services – draft Index of Services Production Manual • Task force on Admin data – framework • Completion of Data and Metadata Reporting and Presentation Handbook following CSTAT consultation • Creation of web-based revisions analytical database for key STES • Initial work on guidelines for series linking • Care and maintenance of the STES Timeliness Framework

  4. OTHER WORK Work of the STESEG task forces (cont.) • Work on development of comparable quarterly unit labour cost indexes for OECD Member countries • Publication of new composite leading indicators for Brazil, China, India, Indonesia, Russia & South Africa – April 2006 + press release (June 2006) • Publication of new composite leading indicators for Czech Republic, Hungary, Korea, NZ, Poland, Slovak Republic – April 2006 • Substantial review MEI series for real indicators, labour compensation, labour force, international trade statistics, BoP – suppression, expansion, replacement • Lead role in Paris Group in work with ILO, Eurostat, NSOs on revision of current (1962) ICLS Resolution on working time measurement – in conjunction with current SNA update

  5. BUSINESS AND CONSUMER OPINION SURVEYS Enlargement of the OECD database on business tendency and consumer opinion surveys • Extensive consultation / co-ordination with the European Commission • Joint OECD / EC workshop on BTS / COS – 14-15 November 2005 • Recommendations from two task forces: response rates + minimisation of respondent load; harmonisation of survey operations and technical design – new international standards • Further development of portal on OECD website for BTS / COS data • Publication of joint OECD / CIRET Journal of Business Cycle Management and Analysis – 3 times a year • OECD workshop on BTS / COS back-to-back with CIRET meeting in Rome – 19 September 2006 Forums involving NSOs, Central Banks, private institutes

  6. CO-ORDINATION OF DATA COLLECTION ACTIVITY WITH EUROSTAT AND IMF • Further development of automated processes for data transfer between Eurostat and OECD databases and vice versa • Some Eurostat national series now published in MEI – MEI series (US and Japan) sent to Eurostat • Industrial production series for OECD member countries sent to IMF • More extensive use of IMF exchange rates

  7. DEVELOPMENT OF OECD CORPORATE DATABASE FACILITIES Creation of OECD Committee on Statistics • Implementation of OECD.stat and MetaStore facilities – large project • Continued focus for STS on content issues – user friendly presentation of data + work on metadata • Metadata work – improvement in quality, consistency of metadata for both STES for Member countries and large NMEs – more analytical metadata in future?

  8. OECD COMMITTEE OF STATISTICS ISSUES Creation of OECD Committee on Statistics (cont.) • Creation of STESWP as an official body of CSTAT • Brazil, Chile, China, India, Russia, Slovenia, South Africa now regular observers on CSTAT and sub. bodies • Third CSTAT meeting held in Paris, 12-13 June – discussion included: national accounts update; data dissemination • OECD budget (PWB) for 2007-2008 being discussed • Very strong Council interest re co-operation with large emerging NMEs + involvement of NMEs in OECD statistical activities

  9. FUTURE ISSUES / WORK FOR MEI? Creation of OECD Committee on Statistics (cont.) • Publication of unit labour cost database • More analytical metadata highlighting differences between related series • Review of the existing MEI paper publication – perhaps smaller, more analytical, extensive use of graphs • Blending of NME data with data for Member countries where appropriate – in Part 1 of MEI • Publication of sets of “common indicators” for wider range of variables – used a proxies for strictly comparable indicators • Development and publication of new zone aggregates – e.g. Major 5 Asia

  10. THANK YOU

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