DBNotes Countries - Jun04

MAIN ECONOMIC INDICATORS DATABASE NOTES
JUNE 2004

AVAILABLE ON DISK FROM 11/06/2004
(STA05)DBNotes/Jun

SEASONAL ADJUSTMENTS


New seasonal adjustments by OECD are generally carried out once a year, when the December figure is available. Revisions to individual series due to new seasonal adjustments by national source or by OECD are not signalled in this note.

Change to base year 2000 for the July release of MEI
 

 

The OECD standard base year used for the presentation of indices will change from 1995 = 100 to 2000 = 100 for the July 2004 release of the MEI dataset. For country series, this change will affect the level of indices previously published, but will have no impact on historical growth rates. For OECD main country grouping series (e.g. OECD-Total, OECD-Europe, Major seven, EU 15, Euro area), the level of published indices will change and there may also be a slight revision to growth rates from 2000 onwards due to the use of year 2000 based weights to combine countries data (i.e. in place of year 1995 based weights). In addition, the length of series published for OECD main country groupings and the groupings themselves are being reviewed. This may result in the discontinuation of some 'OECD - former' country groupings and a change to the definition of high inflation countries for 'OECD excluding high inflation countries' groupings. For more information on the changes being considered, please contact Richard McKenzie.
 

Revisions to MEI series due to a change in linking methodology

The OECD has completed a program designed to improve the methodology for linking different versions of historical time series used to create long time series in the MEI database. The main impact of this change in methodology is to ensure consistency over time of monthly (quarterly) growth rates of time series at link point(s) and consistency of raw and seasonally adjusted versions of the same time series. As a result, several time series have been revised in this edition of the MEI publication. This affects a range of Production, Manufacturing, Domestic Demand, Labour and Finance series. In general, the impact of these changes is small.
 

Changes for EU countries business and consumer opinion surveys
 

All series published for European Union countries for business opinions in the manufacturing industry and consumer opinions are now sourced from the European Commission and conform to a standard presentation format. As a result, some previously published National series have been discontinued and some new series have been introduced to ensure the same set of data is provided for all European Union countries. Where a previous National series has been replaced by the equivalent series sourced from the European Commission, there may be some slight differences in the historical data because all European Commission series are seasonally adjusted using the DAINTIES method. The attached Excel file provides the codes and titles for all series affected by this change. Please note that ALL series have new codes, and the Excel file provides the link between old and new series codes for equivalent National and European Commission sourced series. If users have any comments or queries on this change, please contact Ronny Nilsson.
 

FOR FURTHER DETAILS


Detailed methodological information, updated with a delay of one month, is available on this CD-ROM in \doc\MetaCtr.htm or at http://www.oecd.org/std/mei.
Questions relating to these database notes should be directed by e-mail to stat.contact@oecd.org.

Countries List

BRAZIL    CZECH REPUBLIC    FRANCE    GREECE    INDONESIA    IRELAND    JAPAN    NETHERLANDS    

NEW ZEALAND    NORWAY    POLAND    RUSSIAN FEDERATION    SOUTH AFRICA    SWITZERLAND    UNITED STATES    




UNITED STATES

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Production
 The following series have been revised between 1955 and 1971. These series include the annual survey of manufactures data, selected editions data and the US geological survey, regarding metallic and non metallic minerals (except fuel).
   Industrial production ISIC C-EUSA.PRPEIN01.IXOB
   Industrial production ISIC C-E saUSA.PRPEIN01.IXOBSA
   IIP MANUFACTURINGUSA.PRPEMN01.IXOB
   IIP MANUFACTURING SAUSA.PRPEMN01.IXOBSA
   IIP CONSUMER GOODSUSA.PRTGCG01.IXOB
   IIP CONSUMER GOODS SAUSA.PRTGCG01.IXOBSA
   IIP CONSTRUCTION MATERIALSUSA.PRTGCM01.IXOB
   IIP CONSTRUCTION MATERIALS SAUSA.PRTGCM01.IXOBSA
   IIP INVEST GDS (INCL DEFENCE)USA.PRTGDU04.IXOB
   IIP INVEST GDS (INCL DEFENCE)SAUSA.PRTGDU04.IXOBSA
   IIP RAW MATERIALSUSA.PRTGRM01.IXOB
   IIP RAW MATERIALS SAUSA.PRTGRM01.IXOBSA
Domestic Demand
 These series have been revised since 1992. The price index will provide a measure of the prices paid by persons for domestic purchases of goods and services, which may be a useful measure of consumer prices for some analytical purposes. The index is composed of components that are deflated by either a detailed CPI or a PPI. It excludes expenses of non-profit institutions serving households, most insurance purchases, gambling, margins on used light motor vehicles, expenditures by U.S. residents working and traveling abroad, and imputed expenditures other than owner-occupied non-farm housing.
   Retail sales: volume NCIXOBSA - proxyUSA.DDRSVO01.IXOBSA
   Retail sales 1996 prices saUSA.DDRSVO01.NCMLSA
Producer Prices
 Break in the following series in January 2004 as the North American Industry Classification System (NAICS) was introduced:
   PPI Food plus farm productsUSA.PPAGFD01.IXOB
   PPI TotalUSA.PPIATT01.IXOB
   PPI Industrial goodsUSA.PPIPIN01.IXOB



JAPAN

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Production
 The following series have been revised by source for 2003:
   IIP MANUFACTURINGJPN.PRPEMN01.IXOB
   IIP Consumer Durable goodsJPN.PRTGCG02.IXOB
   IIP Consumer non durable goodsJPN.PRTGCG03.IXOB
   IIP INTERMEDIATE GOODSJPN.PRTGIG01.IXOB
   IIP INVESTMENT GOODSJPN.PRTGVG01.IXOB
Interest Rates
 The following series now shows end-of-period data from July 2003:
   Interest-bearing 10-yr government bonds yieldJPN.IRLTGV02.ST


NEW ZEALAND

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Domestic Demand
 The following series have been revised from 1995 due to a new design of the Monthly Retail Trade Survey:
   RETAIL SALES TOTAL VALUENZL.DDRSVA01.NCCU
   RETAIL SALES TOTAL VALUE SANZL.DDRSVA01.NCCUSA
   retail sales NCIXOBSA - proxyNZL.DDRSVO01.IXOBSA
   Retail sales Total volumeNZL.DDRSVO01.NCQL
   Retail sales Total volume saNZL.DDRSVO01.NCQLSA



CZECH REPUBLIC

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Consumer Price Index
 New national base year (2000=100) for the following series:
   CPI All ItemsCZE.CPALTT01.IXOB
   CPI Food excl. restaurantsCZE.CPGDFD02.IXOB
   CPI EnergyCZE.CPGREN01.IXOB
   CPI All items non-food non-energyCZE.CPGRLE01.IXOB
   CPI HousingCZE.CPSEHO01.IXOB
   CPI Services less housingCZE.CPSELR01.IXOB
Monetary aggregates and their components
 The following series have been revised by source from January 2002 following the introduction of a new monetary survey which is consistent with ECB standards. Earlier data have been linked to these new data by OECD using its standard linking methodology.
   Broad money (M2) saCZE.MABMBM01.IXOBSA
   Monetary aggregate M2CZE.MABMM201.ST
   Monetary aggregate M2 saCZE.MABMM201.STSA
   Monetary aggregate M1CZE.MANMM101.ST
   Monetary aggregate M1 saCZE.MANMM101.STSA
   Narrow money (M1) saCZE.MANMNM01.IXOBSA


FRANCE

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Business tendency surveys (retail trade)
 The following series have been corrected for the entire period:
   Retail trade - Business situation: present saFRA.BRBUCT02.STSA
   Retail trade - Business situation: future tendFRA.BRBUFT02.STSA
   Retail trade - Confidence indicator saFRA.BRCICP02.STSA



GREECE

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Employment
 The following series have been revised by source from 1998 according to the 2001 Population Census:
   Employees: manufacturingGRC.EMDPIN03.IXOB
   Civilian EmploymentGRC.EMESTT02.ST
   Employment : Part-timeGRC.EMOTPT01.ST
Unemployment
 The following series have been revised by source from 1998 according to the 2001 Population Census:
   UNEMPLOYMENT TOTALGRC.UNLVSU01.ST
   Unemp % tot. labour force (LFS)GRC.UNRTSU01.ST



IRELAND

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Employment
 The following series has been included:
   Civilian employmentIRL.EMESTT02.ST
Producer Prices
 New national base year (2000=100) for the following series:
   PPI Agricultural product outputIRL.PPAGTT01.IXOB
   PPI Agricultural products inputIRL.PPIPAG01.IXOB



NETHERLANDS

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Producer Prices
 New national base year (2000=100) for the following series:
   PPI ManufacturingNLD.PPIAMP01.IXOB
   PPI Output totalNLD.PPIATT01.IXOB
Share prices
 The following series is now based on the AEX all share index from January 1995. OECD has linked earlier data based on the now-discontinued CBS all share index using its standard linking methodology.
   Share prices: AEX all sharesNLD.SPASTT01.IXOB


NORWAY

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Production
 The following series have been revised by source. The new working day methodology has been applicated.
   PRODUCTION WOOD PULPNOR.PRCOWO01.IXOB
   PRODUCTION WOOD PULP SANOR.PRCOWO01.IXOBSA
   Industrial production ISIC C-ENOR.PRPEIN01.IXOB
   Industrial production ISIC C-E saNOR.PRPEIN01.IXOBSA
   IIP MANUFACTURINGNOR.PRPEMN01.IXOB
   IIP MANUFACTURING SANOR.PRPEMN01.IXOBSA


POLAND

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National Accounts
 New national base year (2000=100) for the following series:
   Exports of goods and services POL.EXPEXP.LNBQR
   Government final consumption expenditure POL.EXPGC.LNBQR
   Gross domestic product POL.EXPGDP.CQR
   Gross domestic product POL.EXPGDP.DNB
   Gross domestic product POL.EXPGDP.LNBQR
   Gross fixed capital formation POL.EXPGF.LNBQR
   Imports of goods and services POL.EXPIMP.LNBQR
   Private final consumption expenditure POL.EXPPC.LNBQR
   Residual item (gdp by exp) POL.EXPSD.LNBQR
   Increase in stocks and net acqu.of valuables POL.EXPSTNV.LNBQR


SWITZERLAND

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National Accounts
 The following series has been suppressed:
   Increase in stocks incl. a statistical discrepCHE.EXPSTSD.VNBQRSA


BRAZIL

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Domestic Demand
 In line with international recommendation, the following series with 1995 as reference year has replaced BRA.DDRSVO01.IXNB:
   Retail sales: volumeBRA.DDRSVO01.IXOB


INDONESIA

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Consumer Price Index
 New national base year (2002=100) for the following series:
   Consumer prices: All itemsIDN.CPALTT01.IXOB
   Consumer prices: FoodIDN.CPGDFD02.IXOB



RUSSIAN FEDERATION

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Production
 The following series have been included:
   Industrial production: industryRUS.PRPEIN01.IXOB
   Industrial production: industry saRUS.PRPEIN01.IXOBSA
Monetary aggregates and their components
 The following series have been revised by source from January 1998. These series now include accrued interest on deposits of non financial organizations and households.
   Monetary aggregate (M2)RUS.MABMM201.ST
   Monetary aggregate (M2)RUS.MABMM201.STSA
   Monetary aggregate (M1)RUS.MANMM101.ST
   Monetary aggregate (M1)RUS.MANMM101.STSA


SOUTH AFRICA

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Production
 The following series has been included:
   Crude steel productionZAF.PRCOCS01.ML