WG ON DATA TEMPLATE AND ANALYTICAL INDICATORS

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WG ON DATA TEMPLATE AND ANALYTICAL INDICATORS
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3 MAIN GOALS

• to seek agreement for an international data
  template consisting of High Frequency Indicators
  for the purpose of early warning on economic and
  financial vulnerabilities and detection of
  turning points in business cycles along with the
  metadata
• to review the availability and adequacy/relevance
  of statistical methodologies and best practises
  for each of the indicators in the data template
  taking into account the components of the
  statistical production process
• to explore the feasibility of centralized hubs at
  country level led by country coordinators to
  ensure unified dissemination practises of country
  data to regional and international databases

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DATA TEMPLATE - CRITERIA

• relevant indicators to meet analytical and
  policy needs,
• reflect availability and quality of indicators
  and relevance for individual countries,
• coordinate with other international initiatives,
• not to increase the reporting burden

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DATA TEMPLATE - PROPOSAL

• traditional high frequency statistics, basis in
  system of NA, illustrate main dimensions of
  economic developments
• 3 tiers structure tier 1 coordinate with PGI,
  tier 2 depends on availability, more detail, tier
  3 important for given country
• Possibility of future extension of the set of
  indicators other structural economic
  statistics, agricultural and rural statistics,
  sustainable development indicators, etc.
• Examples of other sets of indicators ESCAP -
  economic statistics for Asia and Pacific, UNIDO
  strategic indicators for industrial statistics,
  Bureau of Economic Analysis, USA -template of
  analytical indicators, PEEIs

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REFERENCE METADATA

• importance of reference metadata for assessment
  of the data, tool for further international
  harmonization of compilation of statistics
• different types of metadata short description,
  detailed standardized description, quality
  profiles
• should have standardized format SDDS, SDMX

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METHODOLOGICAL GUIDANCE

• facilitates compilation of good quality
  internationally comparable statistics
• first inventory of existing guidance and best
  practices Knowledge base of Economic statistics
  (UNSD and National institute of statistics and
  geography of Mexico) identification of gaps or
  outdated guidance (construction statistics,
  statistics on new orders,services)
• Diagnostic tool Diagnostic framework for NA and
  supporting economic statistics develops
  information structure for planning, monitoring
  and evaluating implementation of SNA could be
  used also for the template data

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SINGLE ACCESS POINTS - DATA HUBS

• Existing situation different institutions
  compile, production might not be harmonized,
  overlaps
• Data hub which adheres to international
  statistical and dissemination standards will lead
  to more harmonized collection and dissemination
  of data
• Examples Europe NSI, Eurostat
• Steps in designing national data hub
• 1 decide on the scope of the data (e.g. data
  template)
• 2 develop metadata for indicators (structural
  and reference metadata)
• 3 procedures for collection of data for the hub
  and for dissemination of data have to be
  established

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NEXT STEPS

• Finalize the proposal of the contents of the data
  template together with corresponding reference
  metadata.
• Promote the compilation and dissemination of the
  statistics and of the metadata by the countries.
• Initiate the development of methodological
  guidance in areas relevant for the data template
  where such guidance is missing or is outdated.
• Assess the situation in countries with regard to
  single access point to statistics related to the
  data template.

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POSSIBLE LONGER TERM STEPS

• Analyse the possibility of supplementing the data
  template by indicators illustrating the
  developments of countries in more complexity -
  structural economic statistics, agricultural and
  rural statistics, socio-demographic,
  environmental and other statistics showing the
  different aspects of sustainable development
• Promote the use of standardized diagnostic tool
  for assessment of the strengths and weaknesses of
  the statistical production processes in the
  countries