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

2 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? SUMMARY OF MAIN ISSUES EMERGING SINCE 2005 STESEG SUMMARY OF MAIN ISSUES EMERGING SINCE 2005 STESEG

3 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 WORK ARISING OUT OF STESEG

4 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 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 OTHER WORK

5 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 – 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 BUSINESS AND CONSUMER OPINION SURVEYS

6  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 CO-ORDINATION OF DATA COLLECTION ACTIVITY WITH EUROSTAT AND IMF CO-ORDINATION OF DATA COLLECTION ACTIVITY WITH EUROSTAT AND IMF

7 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? DEVELOPMENT OF OECD CORPORATE DATABASE FACILITIES DEVELOPMENT OF OECD CORPORATE DATABASE FACILITIES

8 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, June – discussion included: national accounts update; data dissemination  OECD budget (PWB) for being discussed  Very strong Council interest re co-operation with large emerging NMEs + involvement of NMEs in OECD statistical activities OECD COMMITTEE OF STATISTICS ISSUES

9 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 FUTURE ISSUES / WORK FOR MEI?

10 THANK YOU