Handbook on data template and metadata for short-term statistics

Similar documents
Data Template and analytical indicators

Short-term statistics: Conceptual framework and its relevance to policy making

Short term indicators

Expert Group Meeting on Short Term Statistics Feb 2016

Short-term economic statistics A global response to the economic and financial crisis

Data Template of High Frequency Indicators

Meeting of Inter-Agency Task Force on Finance Statistics IMF Headquarters, Washington, D.C., United States April 3-4, 2008

Debt Statistics and Management: Issues at the National Level

Arab Republic of Egypt

Economic and Social Council

Switzerland. Annual Observance Report of the Special Data Dissemination Standard for 2016 I. INTRODUCTION

Poland. Annual Observance Report of the Special Data Dissemination Standard for 2016 I. INTRODUCTION

OECD SHORT-TERM ECONOMIC STATISTICS WORKING PARTY (STESWP) Evolution of short-term economic statistics in large emerging non-member economies (NMEs)

Finland. Annual Observance Report of the Special Data Dissemination Standard for 2008 I. INTRODUCTION II. SDDS UNDERTAKINGS

Greece. Annual Observance Report of the Special Data Dissemination Standard for 2016 I. INTRODUCTION

Poland. Annual Observance Report of the Special Data Dissemination Standard for 2010 I. INTRODUCTION II. SDDS UNDERTAKINGS

Data on bilateral external positions, an insight into globalisation 1

Outline of presentation

UNCTAD s Seventh Debt Management Conference. New Developments and Guidelines in Debt Reporting and Statistics. Mr. Eduardo Valdivia-Velarde

The IMF s work on financial soundness indicators 1

UPDATE OF QUARTERLY NATIONAL ACCOUNTS MANUAL: CONCEPTS, DATA SOURCES AND COMPILATION 1 CHAPTER 4. SOURCES FOR OTHER COMPONENTS OF THE SNA 2

International data sharing: the example of the G-20 Data Gaps Initiative

G-20 Data Gaps Initiative

Guidelines for the Notes on National Accounts Methodology

STATISTICAL COMMISSION 9 February 1999 Thirtieth session New York, 1-5 March 1999 Items 3(e) of the provisional agenda OTHER ECONOMIC STATISTICS

Guidelines for the Notes on National Accounts Methodology

National Accounts. The System of National Accounts

Further Presentation Tables of External Debt

Compilation of Quarterly GDP: Methods, Problems, and Solution The case of Thailand

Part IV Dissemination and Data Analysis

Measuring and Reporting Capital Flows: The Role of the New Statistical Standards and Data Initiatives 1

MONGOLIA: ACTIVITIES AIMED AT IMPROVING MACROECONOMIC STATISTICS

E/ESCAP/CST(2)/INF/37

Task Force on Corporate Governance of Banks

Overview of the Implementation of National Accounts at Global Level

CASE STUDY / GUIDED EXERCISE MATERIALS LECTURE MATERIALS BROAD CONCEPTUAL ISSUES

Economic and Social Council

REQUIREMENTS IN THE FIELD OF GENERAL ECONOMIC STATISTICS

Chapter 20 Policy and Statistical Issues Underpinning Financial Stability: The IMF Perspective

Economic and Social Council

ESCWA STATISTICS. ESCWA s Perspective on Statistical Business Registers

Instructions for QEDS/GDDS Reporter:

THE G-20 DATA INITIATIVE: Indonesia s Progresses and Challenges

Sources for Other Components of the 2008 SNA

International Monetary Fund Washington, D.C.

Twenty-Third Meeting of the IMF Committee on Balance of Payments Statistics Washington DC, USA October 25-27, 2010

COUNTRY REPORT - MAURITIUS

Reports of countries to the fifth meeting of the Steering Group on the implementation of the Regional Programme on Economic Statistics

The G-20 Data Gaps Initiative: Overview and the Way Forward

IMF Occasional Report: April 2009 February 2010

Concept Note on the International Seminar on Timeliness, Methodology and Comparability of Rapid Estimates of Economic Trends

EuroStat Occasional Paper: March 2011 February 2012

Activities of the Inter-Agency Task Force on Finance Statistics (TFFS) Since the Last Committee Meeting

Coordinated Direct Investment Survey (CDIS)

Methodological notes on the financial accounts and the financial balance sheets of the system of national accounts of the Russian Federation

Session III: Country Experiences on Data Collection and Monitoring of Insurance Industry

10 years since the adoption of the System of National Accounts 2008

Activities of the regional commissions on national accounts and economic statistics Prepared by UNSD in collaboration with the regional commissions

Current practice and status of the national accounts compilation in Uzbekistan

Institutional Arrangements to Integrate Trade in Goods & Services uç

Implementation of SNA and SEEA at global level and current activities

Eighth UNCTAD Debt Management Conference

Table of contents. Acknowledgements... Explanatory notes... Executive summary...

ANNEX 1 SHARE OF RESPONSIBILITIES IN THE FIELD OF BALANCE OF PAYMENTS AND INTERNATIONAL INVESTMENT POSITION STATISTICS

Republic of Slovenia

Pensions and Long-Run Investment

COUNTRY PAPER - CAMBODIA

Progress Report on Work of the Interagency Task Force on Finance Statistics

E/ESCAP/CST(2)/INF/10

2017 ESCB statistics work programme

The General Data Dissemination System

1.1. CoP1 Professional Independence / PC1 Professional Independence

Regional seminar on international trade statistics for Arab countries June, Amman, Jordan Report of the meeting

Financial Intermediation Services Indirectly Measured

BULGARIAN NATIONAL BANK ANNUAL REPORT 2012 APPENDIX

Recent Developments on egdds

UPDATES IN STATISTICAL FRAMEWORKS

S PECIAL FEATURE: ESCWA PROJECT ON INTERNATIONAL MERCHANDISE TRADE STATITICS

8 Changes from BPM5. Chapter 3. Accounting Principles. Chapter 1. Introduction. Chapter 2. Overview of the Framework APPENDIX

Progress Report on Work of the Interagency Task Force on Finance Statistics

STD/PASS/TAGS STD/SES/TAGS Trade and Globalisation Statistics

Public Sector Debt - Instructions

1. Integrity 1.2 Transparency Advance notice of major changes in methodology, source data, and statistical techniques.

The International Monetary Fund May 2001

Global Economic and Financial Data

Occasional Paper on Review of Main Debt Management Activities March 2014 February 2015

Short-term Statistics in Thailand

Cataloging-in-Publication Data

2017 Statistical Programme of Latvijas Banka

Integrating Statistics on National Accounts for Sustainable Development Goals

International Monetary Fund Washington, D.C.

The Revision of the fifth edition of the Balance of Payments Manual - Progress and Plans

Statistics used by the BIS in monitoring and research of the economic and financial crises

Progress report from Statistics Vietnam

Sharing and using financial micro-data 1

The Financial Crisis and Information Gaps. Report to the G-20 Finance Ministers and Central Bank Governors

Economic and Social Council

InternationalEconomicTrends

Recent Activities of the OECD Working Group on International Investment Statistics (WGIIS)

Options to streamline the reporting of and communication with Member States

Transcription:

Handbook on data template and metadata for short-term statistics i Expert Group Meeting on Short-Term Economic Statistics in Western Asia 16-1818 February 2016 Amman, Jordan United Nations Statistics Division Outline Data template Objectives of the handbook Status and way forward 2 1

Data template Background It consists of an internationally agreed list of shortterm statistics for use in Macroeconomic surveillance Early warning of economic and financial vulnerabilities Detection of turning points in business cycles 3 Data template Background It is the result of a consultation process with experts and countries on the availability, periodicity, timeliness and dissemination of shortterm statistics A global assessment was undertaken by UNSD in 2009 to gain insight in the availability of short-term statistics in countries and their data dimensions in terms of periodicity, timeliness and dissemination All UN Member States were invited to participate in the assessment It was discussed and endorsed at the UN Statistical Commission in 2011 4 2

Data template Structure and content Short-term statistics are organized in 12 categories: National accounts Production and turnover Macroeconomic growth and stability Prices Labour market indicators External sector Financial corporations sector Sectoral vulnerabilities General government sector and developments Household sector Non-financial corporations sector Financial market Market conditions Real estate market Tendency indicators Economic sentiment Composite Business Cycle indicators 5 Data template Structure and content Short-term statistics are organized into 3 Tiers: Tier 1 consists of the minimum required short- term statistics ti ti that t have strategic t importance and are widely available Tier 2 consists of analytically important short-term statistics that are less widely available Tier 3 contains short-term statistics that have national significance, given the structure of the economy 6 3

Data template Structure and content Each statistic presents a recommended/encouraged periodicity Quarterly Monthly and Timeliness 7 Set 1: National Accounts Set 1: National accounts Tier Frequency Timeliness 11 1.1 Quarterly national accounts: Flash GDP Tier 1 Quarterly 1M estimate 1.2 Quarterly national accounts: GDP full release 1.2.1 by expenditure Tier 1 Quarterly 1Q (SDDS) 1.2.2 by production Tier 1 Quarterly 1Q (SDDS) 1.2.3 by income Tier 2 Quarterly 1Q (SDDS) 1.3 Quarterly sector accounts Tier 3 Quarterly 1Q Q(SDDS) S) 8 4

Set 2: Production and turnover Set 2: Production and turnover Tier Frequency Timeliness 2.1 Production index for industry, by major division (mining, manufacturing, electricity, water, etc.) Tier 1 Monthly 6-12 W (GDDS) 6W, 1M encouraged (SDDS) 2.2 Production index for construction Tier 2 Monthly 6-12 W (GDDS) 6W, 1M encouraged (SDDS) 2.3 Turnover index for retail trade by major Tier 2 Monthly 1M (SDDS) division 2.4 Turnover index for industry by major division Tier 2 Monthly 1M (SDDS) 2.5 Turnover index for other services by major Tier 2 Monthly 1M (SDDS) division (excluding financial services and noncommercial services) 26 2.6 New orders index for industry by major ISIC Tier 3 Monthly 1M (SDDS) division (for those that work on order) 2.7 New orders index for construction (building Tier 2 Monthly 1M (SDDS) permits or housing starts) 2.8 Commodity production as relevant and other indicators of economic activity Tier 3 Monthly 6-12W (GDDS) 6W, 1M encouraged (SDDS) 9 Set 2: Production and turnover Set 2: Production and turnover Tier Frequency Timeliness 2.8 Commodity production as relevant and other indicators of economic activity Agricultural products Minerals New car registrations/sales New commercial vehicle registrations/sales Tourist arrivals Tier 3 Monthly 6-12W (GDDS) 6W, 1M encouraged (SDDS) 6-12W (GDDS) 6W, 1M encouraged (SDDS) 6-12W (GDDS) 6W, 1M encouraged (SDDS) 6-12W (GDDS) 6W, 1M encouraged (SDDS) 6-12W (GDDS) 6W, 1M encouraged (SDDS) 6-12W (GDDS) 6W, 1M encouraged (SDDS) 10 5

Set 3: Prices Set 4 :Labour market Set 3: Prices Tier Frequency Timeliness 3.1 Consumer price index Tier 1 Monthly 1-2M (GDDS) 1M (SDDS) 3.2 Producer price index Tier 1 Monthly 1-2M (GDDS) 1M (SDDS) 3.3 Import price index Tier 1 Monthly 2-3W 3.4 Export price index Tier 1 Monthly 2-3W Set 4: Labour market 4.1 Unemployment Tier 1 Quarterly 1Q (SDDS) 4.2 Unemployment rate Tier 1 Quarterly 1Q (SDDS) 4.3 Employment total and by economic Tier 1 Quarterly 1Q (SDDS) activity 4.4 Hourly wage rate Tier 2 Quarterly 1Q (SDDS) 4.5 Hours of work Tier 2 Quarterly 1Q (SDDS) 11 Set 5: External sector Set 5: External sector Tier Frequency Timeliness 5.1 Exports and imports (of goods and services) Tier 1 Monthly 8-12W (GDDS) 8W, 4-6W encouraged (SDDS) 1Q (SDDS) 5.2 International investment position (IIP), Tier 2 Quarterly 1Q (SDDS) specify balances and components 5.3 Official reserve assets Tier 1 Monthly 1-4W, 1W encouraged (GDDS) 1W (SDDS) 5.4 External debt (by sector, maturity and foreign currency) Tier 1 Quarterly 3-6M (GDDS) 1Q (SDDS) 12 6

Set 6: Financial corporations sector Set 6: Financial corporations sector Tier Frequency Timeliness 6.1 Central Bank net foreign assets Tier 1 Monthly 2W (SDDS) 6.2 Central Bank domestic lending Tier 1 Monthly 2W (SDDS) 6.3 Central Bank reserve money Tier 1 Monthly 1-2M (GDDS) 2W (SDDS) 6.4 Depository corporations net foreign assets Tier 1 Monthly 1-3M (GDDS) 1M (SDDS) 6.5 Depository corporations domestic lending Tier 1 Monthly 1M (SDDS) 6.6 Depository corporations broad money Tier 1 Monthly 1M (SDDS) liabilities 6.7 Other financial corporations balance sheet, Tier 2 Monthly 1M (SDDS) assets and liabilities by sector. 6.8 Financial corporate profits Tier 2 Quarterly 1Q 6.9 Financial corporate debt Tier 2 Monthly 1Q 6.10 Others as relevant: nonperforming loans of depository corporations, capital adequacy ratios, other financial stability indicators, etc. Tier 3 Monthly 1Q 13 Set 7: General government sector Set 7: General Tier Frequency Timeliness government sector 7.1 Revenue Tier 1 Monthly 2Q, 1Q encouraged (SDDS) 7.2 Expense Tier 1 Monthly 2Q, 1Q encouraged (SDDS) 7.3 Net operating balance (= Tier 1 Monthly 2Q, 1Q encouraged (SDDS) Revenue Expense) 7.4 Net acquisition of non-financial assets Tier 2 Quarterly 2Q, 1Q encouraged (SDDS) 7.5 Expenditure Tier 2 Quarterly 2Q, 1Q encouraged (SDDS) 7.6 Net lending/net borrowing (= Revenue - Expenditure) Tier 2 Quarterly 2Q, 1Q encouraged (SDDS) 7.7 Gross debt Tier 2 Quarterly 4M (SDDS) 14 7

Set 8: Household sector Set 9: Non-financial corporation sector Set 8: Household sector Tier Frequency Timeliness 8.1 Household disposable income Tier 2 Quarterly 1Q (SDDS) 8.2 Household saving Tier 2 Quarterly 1Q (SDDS) 83 8.3 Household debt Tier 2 Quarterly 1Q (SDDS) 8.4 Other as relevant: household debt service and principal payments, and defaults on home mortgages, credit card debt and car loans etc. Tier 3 Quarterly 1Q (SDDS) Set 9: Non-financial corporations sector 9.1 Non-financial corporate profits Tier 3 Quarterly 1Q (SDDS) 92 9.2 Non-financial corporate debt Tier 3 Quarterly 1Q (SDDS) 9.3 Other as relevant: net foreign exchange exposure, and the number of applications for protections from creditors, etc. 1Q 15 Set 10: Financial market Set 10: Financial market Tier Frequency Timeliness 10.1 Interest rates, as relevant short and long term money and bond market rates Tier 1 Monthly No timeliness recommendation is presented given that t the data are widely available from private sources. 10.2 Exchange rates, as relevant spot and forward markets Tier 1 Monthly No timeliness recommendation is presented given that the data are widely available from private sources 10.3 Nominal and real effective Tier 1 Monthly 2M exchange rate 10.4 Stock market indicators Tier 1 Monthly No timeliness recommendation is presented given that the data are widely available from private sources 10.5 Others as relevant : spreads No timeliness between lending and deposit recommendation is presented rates, highest-lowest interbank given that the data are widely rate; etc. available from private sources 16 8

Set 11: Real estate market Set 12: Economic sentiment Set 11: Real estate Tier Frequency Timeliness market 11.1 Residential property price index Tier 2 Quarterly 1Q (SDDS Plus) 11.2 New house sales Tier 3 Monthly 1M 11.3 Existing house sales Tier 3 Monthly 1M Set 12: Economic sentiment 12.1 Consumer confidence Tier 2 Monthly 1M (SDDS) 12.2 Business confidence Tier 2 Monthly 1M (SDDS) 12.3 Composite Business Cycle 1M (SDDS) Indicators 12.3.1 Leading Indicator Tier 3 Monthly 1M (SDDS) 12.3.2 Coincident Indicator Tier 3 Monthly 1M (SDDS) 12.3.3 Lagging Indicator Tier 3 Monthly 1M (SDDS) 17 Objectives of the handbook Presents an internationally-endorsed data template and metadata for short-term statistics for the purpose of macroeconomic surveillance, early warning of economic and financial vulnerabilities and detection of turning points in business cycles To provide methodological guidance on the calculation of the indicators and their use To describe the statistical and analytical properties of short-term statistics Why they are relevant in explaining economic activity How they relate to an integrated t set of short-term t economic statistics of quarterly national accounts and component data Target audience Compilers and users of short-term statistics 18 9

Chapter 1: Data template for short-term statistics Chapter 2: Statistical standards, recommendations and compilation guidance for short-term statistics Chapter 3: Metadata structure for the data template for short-term statistics Chapter 4: Analytical indicators Chapter 5: National data hubs for short-term statistics Chapter 6: Implementing the data template for shortterm statistics 19 Chapter 1: Data template for short-term statistics Presents the data template Describes scope and coverage, and the analytical and statistical framework Relates the data template with other frameworks for short-term statistics Principal European economic indicators Principal global indicators UN ESCAP s core set of economic statistics UN ESCWA s core set of priority short-term economic indicators 20 10

Chapter 2: Statistical standards, recommendations and compilation guidance Provides overview of statistical standards and compilation guidance Describes data sources and collection methods Repositories Knowledge Base on Economic Statistics (http://unstats.un.org/unsd/econstatkb/knowledgebase.aspx) Global Inventory on Statistical Standards (http://unstats.un.org/unsd/iiss/mainpage.ashx) 21 Chapter 3: Metadata structure for the data template for short-term statistics Provides overview of metadata Descriptive data about object Explains need for statistical metadata Ensure transparency about the indicators which are disseminated Ensure harmonization in the content and structure of statistical data to be exchanged 22 11

Chapter 3: Metadata structure for the data template for short-term statistics Provides overview of statistical metadata standards Data Documentation Initiative (DDI) the General Data Dissemination System (GDDS), Special Data Dissemination Standard (SDDS) and Special Data Dissemination Standard Plus (SDDS Plus) Statistical data and metadata exchange (SDMX) Suggests metadata applicable to short-term statistics Need to be short and general to be valid for all countries Based on SDMX to support data exchange Provides examples of metadata structure 23 Chapter 4: Analytical indicators Explores in more detail additional analytical indicators that can be derived from the indicators in the data template for further analysis Presents and describes four groups of analytical indicators Growth rates Contributions to growth Ratio indicators Share indicators 24 12

Chapter 5: National data hubs for short-term statistics Explains the importance of a national data hub to centralize short-term statistics that follow international statistical standards, possibly produced by various institutions in a country, and to make them available at a single access point Describes desired characteristics of data hubs and steps to be considered for their setup Definition of scope Timeliness and periodicity of data Metadata Data collection and dissemination Maintenance 25 Chapter 5: National data hubs for short-term statistics Examples of benefits for national data hubs Improve access to core set of indicators Promote the harmonization i of dissemination i i processes among institutions Foster the harmonization of concepts, definitions and statistical classifications among institutions in the country Can serve as an opportunity to streamline and coordinate statistical activities reducing duplication of work Provides examples from countries KOrean Statistical Information Service (KOSIS) Data portal of the United Arab Emirates Data hub in India 26 13

Country example: KOrean Statistical Information Service (KOSIS) Source: http://kosis.kr/eng/ 27 Country example: Data portal of the United Arab Emirates Source: National Bureau of Statistics UAE, at: http://dataportal.nbs.gov.ae/en 28 14

Country example: Data hub of India Source: Ministry of Finance, Department of Economic Affairs http://www.finmin.nic.in/stats_data/nsdp_sdds/index.html 29 Chapter 6: Implementing the data template for short-term statistics Draws upon the elements of the implementation programme for the 2008 SNA and supporting statistics Provides strategies for establishing programme to implement data template which are based on the principles of Strategic planning Coordination, monitoring and reporting Improving statistical systems 30 15

Chapter 6: Implementing the data template for short-term statistics Principles are operationalized through Use of national strategies t for the development of statistics (NSDS) as the strategic planning framework A programme information structure built around the statistical production process, and compliance to various international standards and best practices Modalities of statistical capacity building such as enhanced dissemination channels and advocacy 31 Chapter 6: Implementing the data template for short-term statistics Handbook recommends the use of a self-assessment questionnaire to help countries assess the current capability of their national statistical system to compile the short-term statistics in the data template Answers form the basis for an action plan to improve the availability, quality and timeliness of the shortterm statistics 32 16

Chapter 6: Implementing the data template for short-term statistics For each short-term statistic in the data template, questions cover Dissemination and communication Metadata and data reporting Data sources Technical cooperation and capacity building 33 Status and way forward Draft handbook was circulated for global consultation from November to December 2015 45 sets of comments have been received Handbook is being revised to incorporate the comments, after which it will be sent for editing 34 17

Thank you! 35 18

2024 © financedocbox.com Privacy Policy | Terms of Service | Feedback