Transcript Main Economic Indicators

OECD’s Main Economic
Indicators
12th OECD-NBS Workshop on the National
Accounts
Paris 27-31 October 2008
1
Background

Flagship publication of short-term economic statistics

30 OECD Member countries and 6 non-member
countries.

Indicators presented by subject and country.

Currently 100 Chinese and Indian series
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Chinese Data in MEI
Description
Data Required / Issues
National Accounts: Currrent Prices
GDP
Value added for:
Agriculture (+forestry. fishing);
Industry (+ energy, construction);
Services
Data Required:
Quarterly Constant Price GDP and
current price GDP by expenditure
Issues: Data is available on-line but
only on a cumulative basis
Production:
Industrial Index of Production
Quantities of:
Mining (Crude petroleum, coal)
Manufacturing (Crude steel, cement)
Energy (Electricity)
Construction (Buildings)
Issues:
Index of industrial production data is in
Same Period Previous Year format.
Needs to be fixed base period for
international comparability.
Construction index is cumulative. (MEI
makes adjustments for monthly data).
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Chinese Data in MEI
Description
Data Required / Issues
Sales:
Retail Trade – Value
Data Required:
Volume
Labour:
Civilian Employment – All Persons
Unemployment – Level, Rate
(registered)
Data Required:
Employment by activity (monthly),
employees (monthly), unemployment
(monthly), hours worked, job
vacancies(Current civilian employment
data is only annual). And unemployment
rates only quarterly.
Average earnings data reflects only
urban units.
Labour Compensation – Average
Earnings
4
Chinese Data in MEI
Description
Data Required / Issues
Prices:
Producer Prices – Industry
Consumer Prices – All, Food,
Services
Data Required:
CPI - Energy and housing.
Issues:
Index data is in SPPY format.
Finance:
Monetary Aggregates – M1, M2
Interest Rates – Overnight, 3 month
Share Prices – Shanghai index
Exchange Rate – average, spot
External Finance – Reserve assets
Data Required:
10 year government bond if issued?
Broad money – M3 measure
5
Chinese Data in MEI
Description
Data Required / Issues
Balance of Payments:
All major current account
balances biannually
Data Required:
Quarterly data
Issues:
Very large ‘Net Errors and
Omissions’ value
6
Going Forward

Goal: to publish Chinese data in
the subject pages (internationally
comparable data pages) of the
MEI.
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