MAIN ECONOMIC INDICATORS DATABASE NOTES

APRIL 2003

AVAILABLE ON DISK FROM 04-04-2003
(STA05)DBNotes/Apr

 

 NATIONAL ACCOUNTS

From April 2003 National Accounts data are entirely consistent with OECD Quaterly National Accounts.

In order to facilitate cross country comparisons, seasonally adjusted volume indices are now available for OECD Member countries (except for Czech Republic, Greece, Hungary, Iceland, Ireland, Luxemburg, Poland, Slovak Republic and Turkey) for:

Gross Domestic Product
Private final consumption expenditure
Governement final consumption expenditure
Gross fixed capital formation
Exports of goods and services
Imports of goods and services

Zone estimates are calculated using country data converted from national currencies by the 1995 GDP Purchasing Power Parity (PPP).

Series are quarterly with the exception of Greece and Luxemburg who do not currently produce quarterly national accounts.

Gross Domestic Product and Expenditure on GDP are also available at market prices in national currency.
Quarterly data are at quarterly levels except for Canada, Mexico, the United States and Japan who publish quarterly national accounts data at annual levels.

A list of all suppressed and all new series can be found in the attached csv file (NEWSERIES_QNA.CSV and SUPPSERIES_QNA.CSV).

Series identifier for Quarterly national Accounts are built in the following way:

Country code.Series code.Measure code

The country code is the ISO country code.

Series codes and titles are standardised whenever the data are comparable.
See below the standard set of titles and corresponding codes.
However, when a series is substantially different from the standardised title,
the difference is indicated both in the title and in the series code.

Series Code Series Title

 

GDP BY TYPE OF EXPENDITURE

EXPGDP Gross domestic product
EXPPC Private final consumption expenditure
EXPGC Government final consumption
EXPGF Gross fixed capital formation
EXPST Increase in stocks
EXPEXP Exports of goods and services
EXPIMP Imports of goods and services
EXPSD Residual item


COMPARATIVE VOLUME INDICES

CMPGDP Gross domestic product
CMPPC Private final consumption expenditure
CMPGC Government final consumption
CMPGF Gross fixed capital formation
CMPEXP Exports of goods and services
CMPIMP Imports of goods and services


Measure code
The measure code is made of the information contained in the three following elements.

* First element : valuation

C Current prices
VNB Constant prices, national base year
LNB Chained constant prices, national base year
VOB Constant prices, official OECD base year (1995)
DNB Implicit price deflator, national base year = 100
DOB Implicit price deflator expressed with 1995 = 100
VIXNB Volume index, national base year = 100
VIXOB Volume index expressed with 1995 = 100
CPC Current prices converted with current PPPs
VPC Current prices converted with 1995 PPPs
VPVOB Constant 1995 prices converted with 1995 PPPs

* Second element : level of the quarterly data

AR The quarterly data for a series are expressed at annual level
QR The quarterly data for a series are expressed at quarterly level

* Third element : seasonal adjustment

SA The quarterly series is seasonally adjusted

LEADING INDICATORS

The lists of turning points used in the calculation of the CLIs have been updated in December 2002, with the exception of Italy, Spain (turning points for these two countries were updated in 2001), Mexico, Greece, Luxembourg and Switzerland. As a result, the level of the CLI data has been modified. At the same time, some component series have been dropped or replaced, to improve the overall timeliness of the CLIs. In addition, a CLI for Turkey has been included.
More information can be found at http://www.oecd.org/std/cli .

A list of the new components series and a list of the suppressed components series can be found in the attached csv file (NEWSERIES_SUPPSERIES_CLI.CSV).

DATA AVAILABILITY FOR NON-MEMBER COUNTRIES

From January 2003, only data for the six major Non-Member countries (Brazil, China P.R., India, Indonesia, Russia and South Africa) are included and published in the MEI publication and related electronic version. However, all other Non-Member countries previously included in MEI are from January 2003 only available (free) on the OECD web-site (www.oecd.org) in a document entitled "Main Economic Indicators: Non-Member Countries". This document can be located by selecting directorates, statistics and statistics for Non-Member countries.

 

EURO TREATMENT

From February 2002, the national currencies of the 12 Euro Member countries are expressed in euro. All historical data (i.e. pre 2001 for Greece and pre 1999 for all other euro area countries) are calculated by applying the fixed irrevocable exchange rates. However, pre European Monetary Union euro are notional units and are not always suitable to form area aggregates. For further details see the article by Schreyer and Suyker in the February 2002 edition, Statistics Brief Number 2, published by the Statistics Directorate of OECD.

Note that, for all Euro area countries, data for periods after accession (i.e. 1999 onwards, 2001 onwards for Greece) are expressed in true euro.

 

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.


CANADA
Domestic credit and debt
 The following series has been revised by source from 1995 onwards:
   CREDIT TO PRIVATE SECTORCAN.CRBLPV01.ST





KOREA
Employment
 The following series have been revised by source from 1991 in line with the change in population projections resulting from the "2000 Population and Housing Census".
   Employment : manufacturingKOR.EMESIN03.ST
   Employment : manufacturing SAKOR.EMESIN03.STSA
   Civilian employment (LFS)KOR.EMESTT02.IXOB
   Civilian employmentKOR.EMESTT02.ST
   Civilian Employment SAKOR.EMESTT02.STSA
Unemployment
 The following series have been revised by source from 1991 in line with the change in population projections resulting from the "2000 Population and Housing Census".
   LAB UNEMPLOYMENT TOTALKOR.UNLVSU01.ST
   LAB UNEMPLOYMENT TOTAL SAKOR.UNLVSU01.STSA
   Unemp % civ. labour force (LFS)KOR.UNRTSU01.ST
 The following series has been discontinued by source:
   Unemp % civ. labour force (LFS) saKOR.UNRTSU01.STSA
Monetary aggregates and their components
 The following series has been suppressed:
   MONETARY AGGREGATE M2 SAKOR.MABMM201.STSA
 The following series have been revised by source from 1991 following application of the IMF's Monetary and Financial Statistics Manual (2000). Data prior to 1991 have been estimated by OECD by linking historical data based on the previous definitions to the new series. The narrow money index series has been recalculated by OECD for the entire period.
   MONETARY AGGREGATE M2KOR.MABMM201.ST
   MONETARY AGGREGATE M1KOR.MANMM101.ST
   MONETARY AGGREGATE M1 SAKOR.MANMM101.STSA
   Narrow money (M1), saKOR.MANMNM01.IXOBSA


NEW ZEALAND
Monetary aggregates and their components
 The following series has been revised from April 1987 to February 1998:
   MONETARY AGGREGATE M1NZL.MANMM101.ST
 The following series has been revised for the entire period following revision of the underlying data:
   Narrow money (M1), saNZL.MANMNM01.IXOBSA


BELGIUM
Production
 New national base year (2000=100) from 2001 for the following series:
   IIP CONSTRUCTIONBEL.PRPECN01.IXOB
   IIP TOTAL INCL CONSTRUCTIONBEL.PRPEIC01.IXOB
   Industrial production ISIC C-EBEL.PRPEIN01.IXOB
   IIP MANUFACTURINGBEL.PRPEMN01.IXOB
   IIP Consumer goods, durablesBEL.PRTGCG02.IXOB
   IIP Consumer goods, non-durablesBEL.PRTGCG03.IXOB
   IIP INTERMEDIATE GOODSBEL.PRTGIG01.IXOB
   IIP INVESTMENT GOODSBEL.PRTGVG01.IXOB
 New national base year (2000=100) from 1990 for the following series:
   IIP CONSTRUCTION SABEL.PRPECN01.IXOBSA
   IIP TOTAL INCL CONSTRUCTION SABEL.PRPEIC01.IXOBSA
   Industrial production ISIC C-E saBEL.PRPEIN01.IXOBSA
   IIP MANUFACTURING SABEL.PRPEMN01.IXOBSA
   IIP Consumer goods, durables saBEL.PRTGCG02.IXOBSA
   IIP Consumer goods, non-durables saBEL.PRTGCG03.IXOBSA
   IIP INTERMEDIATE GOODS SABEL.PRTGIG01.IXOBSA
   IIP INVESTMENT GOODS SABEL.PRTGVG01.IXOBSA

FINLAND
Domestic Demand
 New national base year (2000=100) for the following series:
   RETAIL SALES TOTAL VALUEFIN.DDRSVA01.IXOB
   RETAIL SALES TOTAL VALUE SAFIN.DDRSVA01.IXOBSA
   RETAIL SALES TOTAL VOLUMEFIN.DDRSVO01.IXOB
   RETAIL SALES TOTAL VOLUME SAFIN.DDRSVO01.IXOBSA
   WHOLESALE SALES VALUEFIN.DDWHVA01.IXOB
   WHOLESALE SALES VALUE SAFIN.DDWHVA01.IXOBSA
   WHOLESALE SALES VOLUMEFIN.DDWHVO01.IXOB




GERMANY
Business tendency surveys (manufacturing)
 The following series have been revised by source for the entire period due to a new classification (WZ93):
   DEU BSS Capacity utilisation rateDEU.BSCURT01.ST
   DEU BSS Finished goods stock: levelDEU.BSFGLV01.ST
   DEU BSS Finished goods stock: level saDEU.BSFGLV01.STSA
   DEU BSS Order books: levelDEU.BSOBLV01.ST
   DEU BSS Order books: level saDEU.BSOBLV01.STSA
   DEU BSS Orders inflow: tendencyDEU.BSOITE01.ST
   DEU BSS Orders inflow: tendency saDEU.BSOITE01.STSA
   DEU BSS Business climate saDEU.BSOTBC01.IXNSA
   DEU BSS Production secured by order booksDEU.BSOTPS01.ST
   DEU BSS Production secured by order books saDEU.BSOTPS01.STSA
   DEU BSS Production: future tendencyDEU.BSPRFT01.ST
   DEU BSS Production: future tendency saDEU.BSPRFT01.STSA
   DEU BSS Production: tendencyDEU.BSPRTE01.ST
   DEU BSS Production: tendency saDEU.BSPRTE01.STSA
   DEU BSS Selling prices: future tendencyDEU.BSSPFT01.ST
   DEU BSS Selling prices tendencyDEU.BSSPTE01.ST
   DEU BSS Export order books levelDEU.BSXRLV01.ST
   DEU BSS Export order books level saDEU.BSXRLV01.STSA
Manufacturing
 The following series have been suppressed:
   New Orders Volume Consumer GoodsDEU.MNNOVO04.IXOB
   New Orders Volume Consumer Goods, saDEU.MNNOVO04.IXOBSA
 New national base year (2000=100) for the following series over the entire period replacing 1995 base year version of the series:
   New Orders Volume Total ManufacturingDEU.MNNOVO01.IXOB
   New Orders Volume Total Manufacturing, saDEU.MNNOVO01.IXOBSA
   New Orders Volume Intermediate GoodsDEU.MNNOVO07.IXOB
   New Orders Volume Intermediate Goods, saDEU.MNNOVO07.IXOBSA
   New Orders Volume Intermediate Goods, saDEU.MNNOVO07.IXOBSA
   New Orders Volume Investment GoodsDEU.MNNOVO08.IXOB
   New Orders Volume Investment Goods, saDEU.MNNOVO08.IXOBSA
   New Orders Volume Manufacturing DomesticDEU.MNNOVO09.IXOB
   New Orders Volume Manufacturing Domestic, saDEU.MNNOVO09.IXOBSA
   New Orders Volume Manufacturing ExportDEU.MNNOVO10.IXOB
   New Orders Volume Manufacturing Export, saDEU.MNNOVO10.IXOBSA
Consumer Price Index
 New national base year 2000=100 for the following series:
   DEU CPI All itemsDEU.CPALTT01.IXOB
   CPI Food excl. restaurantsDEU.CPGDFD02.IXOB
   DEU CPI EnergyDEU.CPGREN01.IXOB
   DEU CPI All items non-food non-energyDEU.CPGRLE01.IXOB
   CPI Housing - rental servicesDEU.CPSEHO01.IXOB

HUNGARY
Employment
 The following series has been revised from 2000 to incorporate the results of the 2001 Census:
   Civilian employment (LFS)HUN.EMESTT02.IXOB




ITALY
Production
 The following series have been suppressed:
   IIP MANUFACTURINGITA.PRPEMM01.IXOB
   IIP MANUFACTURING SAITA.PRPEMM01.IXOBSA
 New national classification of economic activity (ATECO 2002) and new national base year (2000=100) for the following series:
   Industrial production ISIC C-EITA.PRPEIN01.IXOB
   Industrial production ISIC C-E saITA.PRPEIN01.IXOBSA
   IIP MANUFACTURINGITA.PRPEMN01.IXOB
   IIP MANUFACTURING SAITA.PRPEMN01.IXOBSA
   IIP CONSUMER GOODSITA.PRTGCG01.IXOB
   IIP CONSUMER GOODS SAITA.PRTGCG01.IXOBSA
   IIP INTERMEDIATE GOODSITA.PRTGIG01.IXOB
   IIP INTERMEDIATE GOODS SAITA.PRTGIG01.IXOBSA
   IIP INVESTMENT GOODSITA.PRTGVG01.IXOB
   IIP INVESTMENT GOODS SAITA.PRTGVG01.IXOBSA
Domestic Demand
 New national base year (2000=100) for the following series:
   RETAIL TRADE VALUEITA.DDRSVA01.IXOB
   RETAIL TRADE VALUE SAITA.DDRSVA01.IXOBSA
   RETAIL SALES VOLUMEITA.DDRSVO01.IXOB
   RETAIL SALES VOLUME SAITA.DDRSVO01.IXOBSA
Producer Prices
 New national base year 2000=100 for the following series:
   PPI TOTALITA.PPIATT01.IXOB
   PPI CONSUMER GOODSITA.PPTGCG01.IXOB
   PPI INTERMEDIATE GOODSITA.PPTGIG01.IXOB
   PPI INVESTMENT GOODSITA.PPTGVG01.IXOB

NETHERLANDS
Construction
 The following series have been suppressed:
   Work in progress: dwellingsNLD.CNWIDW01.ST
   Construction Dwellings Started saNLD.CNWSDW01.IXOBSA


PORTUGAL
Employment
 The following series has been revised from 1998 to incorporate the results of the 2001 Census:
   Civilian employment (LFS)PRT.EMESTT02.IXOB
Unemployment
 The following series have been revised from 1998 to incorporate the results of the 2001 Census:
   UNEMPLOYMENT TOTAL (SURVEY)PRT.UNLVSU01.ST
   Unemp % total labour force (LFS)PRT.UNRTSU01.ST



SOUTH AFRICA
Production
 The following series has been included:
   Industrial production: Mining saZAF.PRPEMI01.IXOBSA
 New national base year (2000=100) for the following series from 1980, replacing earlier versions of the series:
   Gold productionZAF.PRCOGO01.IXOB
   Industrial production: MiningZAF.PRPEMI01.IXOB
   Industrial production: ManufacturingZAF.PRPEMN01.IXOB
   Industrial production: Manufacturing saZAF.PRPEMN01.IXOBSA
Labour compensation
 New national base year (2000=100) for the following series from 1993, replacing earlier versions of the series:
   Unit labor cost in Mfg saZAF.LCULMN01.IXOBSA

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