MAIN ECONOMIC INDICATORS DATABASE NOTES

FEBRUARY 2003

AVAILABLE ON DISK FROM 07-02-2003
(STA05)DBNotes/Feb

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.

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) will be included and published in the MEI publication and related electronic version. However, all other Non-Member countries now included in MEI will from January 2003 only be 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.



NATIONAL ACCOUNTS

Previously, quarterly national accounts data in MEI was published at annual levels only in order to facilitate comparison of data across countries. However, among OECD Member countries only Canada, Mexico, the United States and Japan publish quarterly national accounts data at annual levels.

From September 2002, additional quarterly national accounts data at quarterly levels will be included in the MEI for those Member countries that do not annualise their quarterly national accounts data. This ensures that MEI reflects the series that are being published by national institutions and is consistent with the related OECD publication "Quarterly National Accounts". The Member countries for which quarterly national accounts data at quarterly levels are included are Australia, Korea, New Zealand, Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Portugal, Slovak Republic, Spain, Sweden, Switzerland, Turkey, United Kingdom.

In order to continue to facilitate cross country comparisons data at annual levels will be retained.
 



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.


MEXICO
National Accounts
 The following series have been revised by source from 1980 to 1992 :
   GDP Change in stocks 1993 pricesMEX.NAGVCS01.NCAL.1
   GDP Gross domestic product 1993 pricesMEX.NAGVTT01.NCAL.1


UNITED STATES
Production
 The following series have been suppressed:
   IIP INTERMEDIATE GOODSUSA.PRTGIG01.IXOB.1
   IIP INTERMEDIATE GOODS SAUSA.PRTGIG01.IXOBSA.1
 The following series have been revised by source for the entire period due to a new classification called North American Industry Classification System (previously Standard Industrial Classification):
    CAPACITY UTILIZAT. RATE SAUSA.PRCUMN01.STSA.2
   Industrial production ISIC C-EUSA.PRPEIN01.IXOB.2
   Industrial production ISIC C-E saUSA.PRPEIN01.IXOBSA.2
   IIP MANUFACTURINGUSA.PRPEMN01.IXOB.2
   IIP MANUFACTURING SAUSA.PRPEMN01.IXOBSA.2
   IIP CONSUMER GOODSUSA.PRTGCG01.IXOB.2
   IIP CONSUMER GOODS SAUSA.PRTGCG01.IXOBSA.2
   IIP CONSTRUCTION MATERIALSUSA.PRTGCM01.IXOB.2
   IIP CONSTRUCTION MATERIALS SAUSA.PRTGCM01.IXOBSA.2
   IIP DURABLE GOODSUSA.PRTGDU01.IXOB.2
   IIP DURABLE GOODS SAUSA.PRTGDU01.IXOBSA.2
   IIP INVEST GDS (INCL DEFENCE)USA.PRTGDU04.IXOB.2
   IIP INVEST GDS (INCL DEFENCE)SAUSA.PRTGDU04.IXOBSA.2
   IIP NON DURABLE GOODSUSA.PRTGND01.IXOB.2
   IIP NON DURABLE GOODS SAUSA.PRTGND01.IXOBSA.2
   IIP RAW MATERIALSUSA.PRTGRM01.IXOB.2
   IIP RAW MATERIALS SAUSA.PRTGRM01.IXOBSA.2

AUSTRALIA
Other labour market indicators
 The following series have been revised by source, following the implementation of a new statistical infrastructure:
   Unfilled job vacanciesAUS.OLJVUF01.ST.2
   Unfilled job vacancies saAUS.OLJVUF01.STSA.2

CZECH REPUBLIC
Unemployment
 New source for the following series. It is provided from 1998 by Eurostat and is available on a monthly basis :
   STANDARDISED UNEMP RATE SA.CZE.UNRTSD01.STSA.1

HUNGARY
Unemployment
 New source for the following series. It is provided from 1996 by Eurostat and is available on a monthly basis :
   STANDARDISED UNEMP RATE SA.HUN.UNRTSD01.STSA.1

NETHERLANDS
Business tendency surveys (manufacturing)
 New reference period reflecting guidelines of the European Commission for the following series :
   BSS CAPACITY UTILIZATION RATENLD.BSCURT01.ST.1
   BSS FINISHED GOODS STOCKS:LEVELNLD.BSFGLV01.ST.1
   BSS ORDER BOOKS: LEVELNLD.BSOBLV01.ST.1
   BSS Orders Inflow: TendencyNLD.BSOITE01.ST.1
   BSS PRODUCTION:FUT TENDENCYNLD.BSPRFT01.ST.1

NORWAY
Manufacturing
 The following series is no longer based in 1995Q4 = 100 but it is now based in 1995=100 :
   UNF ORD TRANSPORT EQUIPMENTNOR.MNUOVA05.IXOB.2

POLAND
Unemployment
 New source for the following series. It is provided from 1997 by Eurostat and is available on a monthly basis :
   STANDARDISED UNEMP RATE SA.POL.UNRTSD01.STSA.1

PORTUGAL
Unemployment
 The following series has been revised by Eurostat due to the spring 2002 Labour Force Survey inclusion :
   STANDARDISED UNEMP RATE SAPRT.UNRTSD01.STSA.1



SLOVAK REPUBLIC
Domestic Demand
 The following series has been suppressed:
   Retail sales: volumeSVK.DDRSVO01.IXOB.1
 The following series, which starts in January 2001, replaces the series previously published, following a new methodology corresponding to NACE 52:
   Retail sales: valueSVK.DDRSVA01.NCCU.2
Unemployment
 New source for the following series. It is provided from 1999 by Eurostat and is available on a monthly basis :
   STANDARDISED UNEMP RATE SA.SVK.UNRTSD01.STSA.1


SWEDEN
Production
 The following series have been redefined as a result of the implementation of Council Regulation (EC) N 1165/98.
   Industrial production ISIC C-D sa - proxySWE.PRPEIN01.IXOBSA.2
   IIP MINING & MANUFACTURINGSWE.PRPEMM01.IXOB.5
   IIP MINING & MANUFACTURING SASWE.PRPEMM01.IXOBSA.5
   IIP MANUFACTURINGSWE.PRPEMN01.IXOB.5
   IIP MANUFACTURING SASWE.PRPEMN01.IXOBSA.5
Manufacturing
 The following series have been redefined as a result of the implementation of Council Regulation (EC) N 1165/98.
   DELIVERIES MANUFACTURINGSWE.MNDLVA01.IXOB.5
   NEW ORDERS MANUFACTURINGSWE.MNNOVA01.IXOB.5




SOUTH AFRICA
Production
 New series code for the following series (previously ZAF.BSCURT01.ST):
   Production capacity utilisation rateZAF.PRCUMN01.ST.1
Business tendency surveys (manufacturing)
 The following series have been included:
   Business situation:TendencyZAF.BSBUCT01.ST.1
   Business situation: Future tendencyZAF.BSBUFT01.ST.1
   Mfg confidence indicatorZAF.BSCICP01.ST.1
   Employment: Future tendencyZAF.BSEMFT01.ST.1
   Orders Inflow:TendencyZAF.BSOITE01.ST.1
   Production: future tendencyZAF.BSPRFT01.ST.1
   Selling prices: Future tendencyZAF.BSSPFT01.ST.1
 The following series has been corrected for the entire period:
   BST Rate of capacity utilisationZAF.BSCURT01.ST.1
Consumer opinion surveys
 The following series have been included:
   Consumer confidence indicatorZAF.CSCICP01.ST.1
   Consumer expected inflationZAF.CSCICP03.ST.1
   Consumer expected economic situationZAF.CSCICP04.ST.1

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