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Transcript working group flash
Overview of Programme of the
Working Group on Flash Estimates of GDP
(2)
Roberto Barcellan
European Commission - Eurostat
A system of rapid estimates: different
products for different purposes
Which products are rapid estimates and what are the
differences among them?
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Forecasts
Nowcasts
Flash estimates
Advanced-preliminary estimates
What are these products fit for?
For which products national statistical institutes have to
be responsible?
Minimum quality requirements
Which should be the minimum quality requirements for
rapid estimates:
Timeliness : pre-defined or ad hoc?
Reliability – accuracy: how to measure it?
Coverage: minimum thresholds?
What are the trade-offs between quality requirements?
Technical issues
use of hard and soft data
– Should a minimum amount of hard data be required?
– Can soft data (surveys) be used?
Statistical and econometric techniques
– Econometrics?
– Adherence to the production process of regular estimates?
revision policy and rapid estimates
– Rapid estimates only for the last period
– Revisions of previous estimates?
Creating a “culture” of rapid estimates
Communication
Transparency
Create expectations: pre-fixed release windows?
Define which estimate for which purpose
Dashboard
Alternative to rapid estimates
Are there alternative to rapid estimates?
Monthly estimates of GDP instead of Quarterly rapid
estimates of GDP
New estimates based on, for example, internet (the
Google experience)
Alternative: no rapid estimates
Towards an international approach to rapid
estimates
Is there a need to coordinate the approach to rapid
estimates at international level?
High level group on rapid estimates
– What should be their mandate?
Sharing best practices
– How to organise it?
Establish legal frameworks?
International roadmap for implementation?
Coordination of communication aspects
Recommendations for UNSC
Glossary
Collect and consolidate the information on the
availability of rapid estimates
Handbook on rapid estimates
Expert group on rapid estimates
Implementation plans
Strengthen national capacity
Promote a “rapid estimates culture”
Way forward
UNSD
Lauch the collection of information on availability and
compilation processes
Set up the expert group
Glossary (end 2011) – broad endorsement
Handbook (end 2012) – broad endorsement
Long term development agenda
Thank you for your attention!