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Performing Revisions Analysis for Economic Statistics - Summary Report

This is a summary report of the OECD/Eurostat Task Force on Performing Revisions Analysis for Sub-Annual Economic Statistics. It highlights the importance of revisions analysis for users and producers, and outlines the mandate, terms of reference, membership, and outputs of the task force. The report also provides a comprehensive reference material and web-based revisions analysis tool for performing such analysis.

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Performing Revisions Analysis for Economic Statistics - Summary Report

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  1. OECD / Eurostat taskforce on performing revisions analysis for sub-annual economic statistics Performing Revisions Analysis for Sub-Annual Economic StatisticsSummary report of the OECD/Eurostat Task Force Robin Youll ONS, UK

  2. Motivation Importance of revisions analysis to: 1. Users: information on robustness of estimates aids interpretation of data relating to current economic conjuncture. 2. Producers: integral part of and ideal revisions policy facilitates better understand of the compilation process aids identification of problems/improvements

  3. Mandate To develop a set of guidelines on best practice for performing and using the results of revisions analyses, and in formulating a revisions analysis policy which effectively supports user needs in conjunction with the release of sub-annual economic statistics. The intention is also to provide a set of standard tools as a resource to both producers and users of official statistics to enable such analysis to be performed.

  4. Terms of Reference Define type of data and organization required for revisions analysis Define of a range of summary statistics Develop a revisions analysis tool Develop guidelines on good practice for revisions policy Define the different causes of revisions Develop guidelines on how to analyse revisions Develop guidelines on use of revisions analysis to identify improvements to compilation/estimation Analytic issues for exploration: relationship between revisions and stability of different types of estimates relationship between timeliness and size of revisions

  5. Membership of the Task Force

  6. Outputs of Task Force Comprehensive reference material for users and producers on revisions policy and analysis web page: http://www.oecd.org/std/research/revisions thirteen papers on a range of issues related presentations IT tool for performing revisions analysis

  7. The ‘pivot’: A Revisions Policy

  8. The Revisions Framework Home Page

  9. Summary Terms of Reference were met in full Revisions Framework home page established Revisions Policy forms the ‘pivot’ Revisions analysis tool freely available on the web

  10. THE END

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