MAIN ECONOMIC INDICATORS DATABASE NOTES

JANUARY 2003

AVAILABLE ON DISK FROM 10/01/2003
(STA05)DBNotes/Jan

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.


AUSTRALIA
Production
 The following series have been revised following the implementation of a new statistical infrastructure which affected the Retail Business Survey:
   GDP CONSTRUCTION VOL. INDEXAUS.PRPECN01.NCIXOB.1
   Gross product: industry ISIC C-EAUS.PRPEIN01.IXOB.3
   Gross product: industry ISIC C-E saAUS.PRPEIN01.IXOBSA.3
   MFG GP TOTALAUS.PRPEMN01.IXOB.2
   MFG GP TOTAL SAAUS.PRPEMN01.IXOBSA.2
   GDP SERVICES VOL. INDEXAUS.PRPESE01.NCIXOB.1
   GDP SERVICES VOL. INDEX SAAUS.PRPESE01.NCIXOBSA.1
   MFG GP DURABLE GOODSAUS.PRTGDU01.IXOB.2
   MFG GP DURABLE GOODS SAAUS.PRTGDU01.IXOBSA.2
   MFG GDP NON-DURABLE GOODSAUS.PRTGND01.IXOB.2
   MFG GDP NON-DURABLE GOODS SAAUS.PRTGND01.IXOBSA.2

AUSTRIA
National Accounts
 The following series have been revised by source for the entire period:
   GDP Gross domestic product current pricesAUT.NAGCTT01.NCAL.1
   GDP Gross domestic product current pricesAUT.NAGCTT01.NCCU.1
   GDP IMPLICIT PRICE LEVELAUT.NAGITT01.IXOB.1
   GDP Priv. final consump. exp. 1995 pricesAUT.NAGVCE01.NCAL.1
   GDP GFCF Construction 1995 pricesAUT.NAGVCN01.NCAL.1
   GDP Change in stocks 1995 pricesAUT.NAGVCS01.NCAL.1
   GDP Exports goods and services 1995 pricesAUT.NAGVEX01.NCAL.1
   GDP Govt. final consump. exp. 1995 pricesAUT.NAGVGE01.NCAL.1
   GDP Imports goods and services 1995 pricesAUT.NAGVIM01.NCAL.1
   GDP Gross fixed cap. formation 1995 pricesAUT.NAGVIV01.NCAL.1
   GDP GFCF Mach. and equip. 1995 pricesAUT.NAGVME01.NCAL.1
   GDP Residual stat. discrepancy 1995 pricesAUT.NAGVSD01.NCAL.1
   GDP Gross domestic product 1995 pricesAUT.NAGVTT01.NCAL.1
   GDP Gross domestic product 1995 pricesAUT.NAGVTT01.NCCU.1
   GDP Volume index saAUT.NAGVVO01.IXOBSA.1

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


IRELAND
National Accounts
 The following series has been suppressed:
   GDP 1995 Prices (annual)IRL.NAGVTT01.NCAL.1
 The following quartely series have been included, replacing previously annual series:
   GDP Gross domestic product current pricesIRL.NAGCTT01.NCCU.1
   GDP Implicit price levelIRL.NAGITT01.IXOB.1
   GDP Gross domestic product 1995 pricesIRL.NAGVTT01.NCCU.1




PORTUGAL
Production
 New national base year (2000=100) and revised methodology for the following series:
   Industrial production ISIC C-EPRT.PRPEIN01.IXOB.7
   Industrial production ISIC C-E saPRT.PRPEIN01.IXOBSA.7
   IIP MANUFACTURINGPRT.PRPEMN01.IXOB.7
   IIP MANUFACTURING SAPRT.PRPEMN01.IXOBSA.7
   IIP CONSUMER GOODSPRT.PRTGCG01.IXOB.4
   IIP CONSUMER GOODS SAPRT.PRTGCG01.IXOBSA.4
   IIP ENERGYPRT.PRTGEN01.IXOB.2
   IIP ENERGY SAPRT.PRTGEN01.IXOBSA.2
   IIP INTERMEDIATE GOODS, EXC. ENERGYPRT.PRTGIG02.IXOB.2
   IIP INTERMEDIATE GOODS EXCL. ENERGY SAPRT.PRTGIG02.IXOBSA.2
   IIP INVESTMENT GOODSPRT.PRTGVG01.IXOB.4
   IIP INVESTMENT GOODS SAPRT.PRTGVG01.IXOBSA.4
   TURNOVER INDEX/TOTAL (ENQ IND)PRT.PRTUIN01.IXOB.3
Domestic Demand
 New national base year (2000=100) and revised methodology for the following series:
   Retail Sales VolumePRT.DDRSVO01.IXOB.3
   Retail Sales Volume saPRT.DDRSVO01.IXOBSA.3
Producer Prices
 New national base year (2000=100) and revised methodology for the following series:
   PPI MANUFACTURINGPRT.PPIAMP01.IXOB.3
   PRODUCER PRICES TOTALPRT.PPIATT01.IXOB.3
   PPI CONSUMER GOODSPRT.PPTGCG01.IXOB.3
   PPI INTERMEDIATE GOODS, EXC. ENERGYPRT.PPTGIG02.IXOB.2
   PPI INTERM GOODS (ENERGY )PRT.PPTGIG03.IXOB.2
Consumer Price Index
 The following series have been included in order to provide more common series between countries.
   CPI Rent + Repairs and MaintenancePRT.CPSEHO05.IXOB.1
   CPI Services Less Housing Nat. DefinitionPRT.CPSELR02.IXOB.1


SWEDEN
National Accounts
 The following series have been revised by source for the entire period:
   GDP Gross domestic product current pricesSWE.NAGCTT01.NCAL.1
   GDP Gross domestic product current pricesSWE.NAGCTT01.NCCU.1
   GDP Implicit price levelSWE.NAGITT01.IXOB.1
   GDP Priv. final consump. exp. 1995 pricesSWE.NAGVCE01.NCAL.1
   GDP Change in stocks 1995 pricesSWE.NAGVCS01.NCAL.1
   GDP Exports goods and services 1995 pricesSWE.NAGVEX01.NCAL.1
   GDP Govt. final consump. exp. 1995 pricesSWE.NAGVGE01.NCAL.1
   GDP Imports goods and services 1995 pricesSWE.NAGVIM01.NCAL.1
   GDP Gross fixed cap. formation 1995 pricesSWE.NAGVIV01.NCAL.1
   GDP Residual stat. discrepancy 1995 pricesSWE.NAGVSD01.NCAL.1
   GDP Gross domestic product 1995 pricesSWE.NAGVTT01.NCAL.1
   GDP Gross domestic product 1995 pricesSWE.NAGVTT01.NCCU.1
   GDP VOLUME INDEX saSWE.NAGVVO01.IXOBSA.1
Unemployment
 The following series has been revised by Eurostat due to the spring 2002 Labour Force Survey inclusion :
   STANDARDISED UNEMP RATE SASWE.UNRTSD01.STSA.1




TURKEY
Consumer Price Index
 The following series has been suppressed:
   CPI HOUSINGTUR.CPSEHO01.IXOB.3
 The following series has been revised by source to provide more common series between countries. Energy is defined as Electricity, gas and other fuel (COICOP 04.5) plus Fuel and lubricants for personal transport equipment (COICOP 07.2.2).
   CPI EnergyTUR.CPGREN01.IXOB.1
 This series has been revised to provide more common series between countries. Food is defined as Food excluding restaurant meals (COICOP 01).
   CPI Food excl. restaurantsTUR.CPGDFD02.IXOB.1
 The following series have been compiled by source to provide more common series between countries.
   CPI All items less food less energyTUR.CPGRLE01.IXOB.1
   CPI HOUSINGTUR.CPSEHO01.IXOB.4
   CPI Services less housingTUR.CPSELR01.IXOB.1

UNITED KINGDOM
Labour compensation
 The following series has been revised due to benchmarking, Census 2001 and methodology changes:
   Unit labour cost : manufacturing saGBR.LCULMN01.IXOBSA.3


ZONES
Consumer Price Index
 Turkey is now included in this total
   OTO CPI EnergyOTO.CPGREN01.IXOB.1
 Turkey is now included in this total.
   OTO CPI All items non-food non energyOTO.CPGRLE01.IXOB.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.org .