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STAN Database for Industrial Analysis

Purpose

To provide a comprehensive database tool for cross-country analyses of industrial performance (competitiveness, productivity etc.) and structural change at a relatively detailed level of activity.

Objectives and outputs

The STAN database for industrial analysis provides analysts and researchers with a comprehensive tool for analysing industrial performance at a relatively detailed level of activity across countries. It includes annual measures of output, labour input, investment and international trade which allow users to construct a wide range of indicators to focus on areas such as productivity growth, competitiveness and general structural change. The industry list provides sufficient detail to enable users to highlight high-technology sectors and is compatible with those used in related OECD databases.

Non-member countries involved in the activity:

Brazil, China, India, Indonesia, Russian Federation, South Africa.

Databases

STAN Database for industrial Analysis

Main Developments for 2012

General aspects:

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Business Tendency and Consumer Opinion Surveys

Purpose

To collect and disseminate business tendency and consumer opinion survey data for OECD member countries and selected non-member economies. To promote wider use of business tendency and consumer opinion surveys in OECD member countries and selected non-member economies.

To develop international statistical standards and to encourage scientific research in this field of statistics.

Objectives and outputs

This activity involves the ongoing collection and publication of an extensive range of business tendency and consumer opinion survey data and related metadata from OECD member countries and the BRIICS.

The survey data are published in the OECD's monthly Main Economic Indicators (MEI). Data collection is co-ordinated with the European Commission, with the OECD taking primary responsibility for data collection from national sources only for non-EU OECD member countries and the BRIICS.

During the year 2010 the OECD evaluated the possibility to renew its existing international guidelines and recommendations. In co-operation with UNSD, the European Commission and CIRET it surveyed current availability of tendency sureveys internationally and the level of harmonization and adherence to existing guidelines. For 2011 the OECD will start the review of its Business Tendency Surveys handbook last revised in 2003.

Non-member countries involved in the activity:

Brazil, China, India, Indonesia, Russian Federation, South Africa.

Databases

MEI_BTS_COS

Main Developments for 2012

General aspects:

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Composite Leading Indicators

Purpose

To compile and disseminate the OECD composite leading indicators for OECD member countries and for the BRICS NMEs + Indonesia, which help analysts to assess the cyclical phase of the OECD economies and forecast its future development.

To do methodological development work and carry out scientific research in this field.

Objectives and outputs

OECD Composite Leading Indicators (CLI) are published in the monthly Main Economic Indicators publication and in a monthly press release.

The quality of existing CLIs is monitored and enhanced on an on-going basis, including the expansion of country coverage for both OECD member and non-member countries, and the development of new tools in the research software for cyclical analysis and composite indicators.

Main achievements in 2010 were the finalization of a distributable package of the production system (CACISd), setting up the dissemnination website in Clearspace, with the goal of reinforcing transparency.

Non-member countries involved in the activity:

Brazil, China, India, Indonesia, Russian Federation, South Africa.

Databases

MEI_CLI

Main Developments for 2012

General aspects:

Update CLIs for selected OECD member countries.

A pilot project testing the multivariate direct filter approach for CLI caluclation in co-operation with prof. Marc Wildi.

Changing the reference series at the core of the CLI from IIP to GDP.

Data collection:

Inclusion of additional series required for the compilation of CLIs for Brazil, China, India, Russian Federation and South Africa and for OECD member as a result of on-going review of CLI component series for each country.

Data management:

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Main Economic Indicators

Purpose

The OECD's Main Economic Indicator (MEI) database provides a wide range of short-term economic indicators (and associated methodological information) for OECD member and non-countries to meet the on-going requirements of a number of internal OECD users.

Objectives and outputs

Maintaining the Main Economic Indicators (MEI) database, which contains monthly and quarterly statistics (and associated statistical methodological information) for all OECD member and for all Enhanced Engagement economies on a wide variety of economic indicators for use by economic analysts, policy makers and business.

Indicators in the MEI database include: quarterly national accounts, industrial production, composite leading indicators, business tendency and consumer opinion surveys, retail trade, consumer and producer prices, hourly earnings, employment/unemployment, interest rates, monetary aggregates, exchange rates, international trade and balance of payments.

There is an on-going process of review to revise the contents of the database in order to maximise the relevance of the database for short-term economic analysis, for example, through the inclusion of new indicators reflecting new areas of analysis and policy making. Enlarging coverage also entails working with other international organisations such as IMF, ILO, ECB and Eurostat in the development of effective international standards for the presentation of statistical methodological information (metadata), and increasing the coverage and quality of statistical metadata, whilst at the same time minimising the reporting burden of member countries.

Non-member countries involved in the activity:

Brazil, China, India, Indonesia, Russian Federation, Slovenia, South Africa.

Databases

Main Economic Indicators (MEI)

Main Developments for 2012

General aspects:

The ongoing implementation of a MEI Review undertaken in 2010 at the request of the Director.

Data collection:

On-going processes to improve the efficiency and timeliness of data capture processes.

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Real-time and Revisions Database

Purpose

To make freely available on the OECD website a "real-time" database with associated revisions analysis of key short-term economic statistics derived from historically published monthly snapshots of the OECD Main Economic Indicators database.

Objectives and outputs

The concept of a real time database is to provide an information set of short-term economic statistics that would have been available to analysts at a specific point in time for the purpose of testing the likely effectiveness of econometric models in real-time. It also provides the opportunity to perform revisions analysis - i.e. to study the magnitude and direction of subsequent revisions to published statistics. A database containing MEI vintage from 1999 was developed and published on the OECD website in 2006.

The portal also provides a broader context on the issue of revisions. This primarily take the form of the revisions framework (outlining the reasons for data revision) formulated by the IMF and of the recommendations published in the OECD "Data and Metadata Reporting and Presentation Handbook".

Updated revisions analysis of GDP and a comparision of revisions between seasonally adjusted and raw series were performed in 2007 and presented at the STESWP and National Accounts working parties, and also at a number of international conferences where the database was also promoted.

Main Developments for 2012

General aspects:

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Short-Term Financial and Real Indicators

Purpose

To capture in quantitative terms an important but heterogeneous and fast evolving area in globalisation of the financial markets and increased sophistication of the actors and activities in these markets.

To provide short-term economic indicators of production, sales, orders, work started and in progress and stocks for OECD member countries and selected large emerging non-member economies.

Objectives and outputs

The Financial Indicators dataset contains financial statistics on six separate subjects: Monetary Aggregates, Interest Rates, Exchange Rates, Reserve Assets, International Trade, and Share Prices. In all cases considerable effort has been made to ensure that the data are internationally comparable across all countries presented and that all the subjects have good historical time-series' data to aid with analysis.

All the subjects under Real Indicators are classified under the following six top headings: Production, Sales, Orders, Work started, Work in progress, Stocks. Within each heading, indicators are further classified according to economic activities.

Non-member countries involved in the activity:

Brazil, China, Indonesia, Russian Federation, South Africa.

Databases

MEI_FIN