1. Roberto Barcellan European Commission - Eurostat
Flash estimates of GDP
Roberto Barcellan
European Commission - Eurostat

2. Introduction
GDP is the the “indicator” able to resume the economic performance of a country
GDP is the ultimate product of the statistical chain
Crisis: need for early estimates of GDP
Methodological and technical debates
A standalone rapid estimate of GDP is not sufficient for policy makers
Sequence of statistical products
Set of indicators

3. GDP: a sequence of statistical products

4. Who does what?
Planning Bureaus / Research institutes / Statistical authorities
Statistical Authorities

5. The dashboard approach
Set of coherent macroeconomic key indicators
Flexible to adapt to evolving needs
information on
Prices
national accounts
labour market statistics
short-term statistics
external trade
Dynamic evolution

6. Framework: the pyramid of statistical information
Specific purpose
Multi- purpose
Primary and secondary data
Accounting systems
Indicator (sets)
Composite indicators

7. Information and rapid estimates
nowcasts
Flash estimates
Regular estimates
Increase availability of basic information
Decreasing use of econometric / statistical techniques

8. How to move towards rapid estimates of a set of indicators?
Define the dashboard
Define the typology of statistical product
glossary
International cooperation for guidelines and strategic short, medium and long term objectives
handbooks
Methodological background
Seminars and sharing best practices

9. Creating a “culture” of rapid estimates
Adequate communication
Transparency
Pre-defined release windows
What does estimate what?
Promoting the dashboard

10. Summary ideas Importance of rapid estimates
Sequence of statistical products fit for purpose
For each product: basic information and methodology
Dashboard
Outcome of a coordinated statistical production process
Communication

11. Thank you for your attention!