8-11-Jul-07 How to increase quality of Principal European Economic Indicators? Roberto Barcellan, Brian Newson, Klaus Wurm Eurostat

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics Principal European Economic Indicators (PEEIs) Increased attention to short-term economic indicators Economic and monetary policies PEEIs (2003) –Challenging improvements (e.g. timeliness, accuracy, reliability, communication, …)

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics PEEIs Five sets of PEEIs: –consumer prices –national accounts –short-term business indicators –labour market indicators –external trade indicators Including key short-term indicators: –Harmonised Index of Consumer Prices (HICP) –Gross Domestic Product (GDP) –Industrial Production Index (IPI) –employment, unemployment.

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics PEEIs and quality PEEIs targets reflected clear users’ needs PEEIs a co-production of the ESS Clear targets –timeliness; –coherence –comparability –the communication aspects –accessibility of figures In line with the principles of the European Code of Practices

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics Quality through a common framework and coordinated objectives Set up of a common framework for development Extensive consultation of users and producers Focus on euro area and EU aggregates –Targets: timeliness, accuracy, reliability, coherence, transmission, dissemination First stage: timeliness and availability

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics Quality through common legal references European legislation for: –Providing indicators (coverage) –Deadlines for the transmission (timeliness) –Quality aspects (accuracy, reliability) –Enhanced harmonisation (comparability) General principles and specific rules Indicators and basic statistics

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics Quality through harmonised methodology, sharing best practices, common methodological references Methodological initiatives –guidelines, recommendations, sharing of best practices Manuals and handbooks in specific areas –price statistics, quarterly national accounts, short-term public finance statistics and short-term business indicators Common initiatives –Seasonal adjustment guidelines –Revision policy –Coordination of methodological changes Sharing best practices

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics Quality through monitoring, reporting, comparability Success of PEEIs: –clear and measurable targets –implementation plan/timetable –monitoring on a regular basis (annually) EFC Status Report –Highlights progress achieved in different areas –Points to work to be done –Positive peer pression –Friendly competitiveness Compliance and reporting

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics Quality through communication of data and metadata Transparency Data and metadata Information for the general public Exchange of statistical data and metadata in the European Statistical System Dedicated website Feedback from users Ad hoc communication initiatives

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics PEEI and quality: the way forward 2008: review the scope, timeliness and quality of PEEIs –in the light of the results achieved –the constraints encountered –evolving users’ needs for economic and monetary policy purposes PEEIs as a set of interdependent indicators Coordination by sub-areas Economic oriented assessment Monitor and assess – fix assessment criteria

8-11-Jul-08 Q2008 – European Conference on Quality in Official Statistics Thank you for your attention