DBNotes Countries - May07

MAIN ECONOMIC INDICATORS DATABASE NOTES
MAY 2007

AVAILABLE ON DISK FROM 12-05-2007
(STA05)DBNotes/May

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.

Introduction of European Union series and changes to Euro Area series


With the recent expansion of both the Euro Area to include Slovenia and the European Union to 27 countries the Main Economic Indicators is introducing a change in its approach for compiling and disseminating statistics related to these regions. The new strategy implies that wherever possible, Euro Area and European Union data will be sourced from the relevant European authorities and the OECD will soon cease to perform our own calculations for these regions. In terms of codes, OECD compiled data for the Euro Area is indicated by the prefix EUZ whereas data supplied by European authorities uses the prefix of EMU. Note that the MEI has always published a combination of EUZ and EMU series, often for the same subject. In the case of the European Union, the prefix EUU will be used whereas OECD compiled series only relate to the former European Union of 15 countries indicated by the prefix E15.

The attached spreadsheet European Union series for May MEI.xls indicates the new EUU series published for the May MEI and the E15 series they essentially replace, together with newly added EMU series. To aid users in this transition, MEI electronic products will continue to publish EUZ and E15 series for the remainder of 2007. Also, for several subjects, EUU and EMU series will be linked to existing EUZ and E15 series to form long time series where this is seen as appropriate from a methodological perspective. The MEI online metdata at http://stats.oecd.org/mei/ will indicate where such linking has been performed.
 

Quarterly national accounts


There is one important exception to the above rule. EUU series for quarterly national accounts will be introduced in the June 2007 MEI to replace the currently published E15 series. Thus for quarterly national accounts this May 2007 edition will be the last publication of E15 series, the series codes affected are listed in the above spreadsheet. Euro area series for quarterly national accounts have always been published under the prefix EMU and this will continue. However from June 2007 the Euro area series will be those provided by Eurostat whereas the current series are calculated by the OECD as explained in the MEI explanatory notes.
 

FOR FURTHER DETAILS


Detailed methodological information, updated in real time, is available at http://stats.oecd.org/mei/.
Questions relating to these database notes should be directed by e-mail to stat.contact@oecd.org.

Countries List

CANADA    JAPAN    BELGIUM    CZECH REPUBLIC    HUNGARY    POLAND    SLOVAK REPUBLIC    SPAIN    TURKEY    EURO AREA    EUROPEAN UNION    







CANADA

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Monetary aggregates and their components
 The following series is now M1+ (gross) replacing the M1 series which was terminated by source:
   Monetary aggregate M1+ (gross)CAN.MANMM101.ST
 The following series is now M1+ (gross) s.a. replacing the M1 s.a. series which was terminated by source:
   Monetary aggregate M1+ (gross) saCAN.MANMM101.STSA
 The following series is now M2+ (gross) replacing the M2+ series which was terminated by source:
   Monetary aggregate M2+ (gros)CAN.MABMM203.ST
 The following series is now M2+ (gross) s.a. replacing the M2+ s.a. series which was terminated by source:
   Monetary aggregate M2+ (gross) saCAN.MABMM203.STSA
 The following series is now M3 (gross) s.a. replacing the M3 s.a. series which was terminated by source:
   Monetary aggregate M3 (gross) saCAN.MABMM301.STSA
 The following series has been suppressed by source:
   Chartered banks' personal savings depositsCAN.MASDTB01.ST





JAPAN

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Production
 The following series have been revised by source from 2006:
   Production of total industry JPN.PRINTO01.IXOB
   Production of total industry saJPN.PRINTO01.IXOBSA
   Production of total manufactured consumer goodsJPN.PRMNCG01.IXOB
   Production of total manufactured consumer goods saJPN.PRMNCG01.IXOBSA
   Production of manufactured durable consumer goods JPN.PRMNCG02.IXOB
   Production of manufactured durable consumer goods saJPN.PRMNCG02.IXOBSA
   Production of manufactured non-durable consumer goods JPN.PRMNCG03.IXOB
   Production of manufactured non-durable consumer goods saJPN.PRMNCG03.IXOBSA
   Production of chemical productsJPN.PRMNNG04.IXOB
   Production of chemical products saJPN.PRMNNG04.IXOBSA
   Production of total manufactured investment goods JPN.PRMNVG01.IXOB
   Production of total manufactured investment goods saJPN.PRMNVG01.IXOBSA
Sales
 The following series have been revised by source from 2006:
   Sales of manufactured investment goods (Volume) JPN.SLMNVG01.IXOB
   Sales of manufactured investment goods (Volume) saJPN.SLMNVG01.IXOBSA
Stocks
 The following series have been revised by source from 2006:
   Ratio of inventories to shipmentsJPN.STMNIS01.IXOB
   Ratio of inventories to shipments saJPN.STMNIS01.IXOBSA
   Stocks of manufactured investment goods (Volume) JPN.STMNVG01.IXOB
   Stocks of manufactured investment goods (Volume) saJPN.STMNVG01.IXOBSA
Labour compensation
 New national base year (2005=100) for the following series:
   Monthly earnings: manufacturing saJPN.LCEAMN03.IXOBSA


BELGIUM

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Labour compensation
 The following series have been included:
   Hourly earnings: private sectorBEL.LCEAPR01.IXOB
   Hourly earnings: private sector saBEL.LCEAPR01.IXOBSA


CZECH REPUBLIC

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Sales
 The following series collected from the European Automobile Manufacturers Association has been included:
   Passenger car registrationsCZE.SLRTCR03.ML



HUNGARY

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Sales
 The following series collected from the European Automobile Manufacturers Association has been included:
   Passenger car registrationsHUN.SLRTCR03.ML
Consumer Price Index
 New national base year (2006M12=100) for the following series:
   CPI All itemsHUN.CPALTT01.IXOB
   CPI Food excluding restaurantsHUN.CPGDFD02.IXOB
   CPI EnergyHUN.CPGREN01.IXOB
   CPI All items non-food non-energyHUN.CPGRLE01.IXOB
   CPI HousingHUN.CPSEHO01.IXOB
   CPI ServicesHUN.CPSETT01.IXOB


POLAND

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Producer Prices
 New national base year (2006=100) for the following series:
   PPI ManufacturingPOL.PPIAMP01.IXOB
   PPI Industry-TotalPOL.PPIATT01.IXOB
   PPI Electricity, gas and waterPOL.PPOEUT01.IXOB



SLOVAK REPUBLIC

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Sales
 The following series collected from the European Automobile Manufacturers Association has been included:
   Passenger car registrationsSVK.SLRTCR03.ML
Producer Prices
 New national base year (2005M12=100) for the following series:
   Producer prices: MiningSVK.PPIAMI01.IXOB
   Producer prices: ManufacturingSVK.PPIAMP01.IXOB
   Producer prices: IndustrySVK.PPIATT01.IXOB
   PPI Producer prices: Elec, gas & waterSVK.PPOEUT01.IXOB


SPAIN

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Work started
 The following series have been suppressed by the national source:
   Work started for dwellings ESP.WSCNDW01.ML
   Work started for dwellings saESP.WSCNDW01.MLSA


TURKEY

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Labour compensation
 The following series have been revised by source following the increase of the coverage of the Quarterly Industrial Manufacturing Survey from 3500 to 6000 establishments in the 4th quarter of 2005, resulting in a break in the time series:
   Hourly earnings: manufacturingTUR.LCEAMN01.IXOB
   Hourly earnings: manufacturing saTUR.LCEAMN01.IXOBSA
   Hourly earnings: manufacturingTUR.LCEAMN01.ST
   Hourly earnings: manufacturing saTUR.LCEAMN01.STSA








EURO AREA

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Production
 As a result of enlargement of the Euro area series include Slovenia since January 2007
   Production of total construction saEMU.PRCNTO01.IXOBSA
 Data refer to the 13 EMU countries: Austria, Belgium, France, Finland, Germany,Greece, Italy, Ireland, Luxembourg, Netherlands, Portugal, Spain and Slovenia ( as per 01/01/2007):
   Production of total industryEMU.PRINTO01.IXOB
   Production of total industry saEMU.PRINTO01.IXOBSA
Sales
 Data refer to the 13 EMU countries: Austria, Belgium, France, Finland, Germany,Greece, Italy, Ireland, Luxembourg, Netherlands, Portugal, Spain and Slovenia ( as per 01/01/2007):
   Total retail trade (Volume) EMU.SLRTTO01.IXOB
   Total retail trade (Volume) saEMU.SLRTTO01.IXOBSA
Orders
 As a result of enlargement of the Euro area series include Slovenia since January 2007
   Permits issued for dwellings EMU.ODCNPI03.IXOB
   Permits issued for dwellings saEMU.ODCNPI03.IXOBSA
Labour compensation
 The following series have been included:
   Hourly earnings: manufacturingEMU.LCEAMN01.IXOB
   Hourly earnings: manufacturing saEMU.LCEAMN01.IXOBSA
   Hourly earnings: private sectorEMU.LCEAPR01.IXOB
   Hourly earnings: private sector saEMU.LCEAPR01.IXOBSA
Foreign Trade
 EUU.CPHPFD01.IXOB.1 replace E15.CPGDFD01.IXOB.2. The series refers to the current composition of the European Union (27 countries) for the entire period of the time series.
   ITS Exports f.o.b. total saEMU.XTEXVA01.CXMLSA
Balance of Payments
 The Euro area series now include Slovenia:
   BOP Balance on incomeEMU.BPBLIN01.NCCU
   BOP Balance on income saEMU.BPBLIN01.NCCUSA
   BOP Balance on servicesEMU.BPBLSE01.NCCU
   BOP Balance on services saEMU.BPBLSE01.NCCUSA
   BOP Balance on goodsEMU.BPBLTD01.NCCU
   BOP Balance on goods saEMU.BPBLTD01.NCCUSA
   BOP Balance on current transfersEMU.BPBLTF01.NCCU
   BOP Balance on current transfers saEMU.BPBLTF01.NCCUSA
   BOP Current balance USDEMU.BPBLTT01.CXCU
   BOP Current balance USD saEMU.BPBLTT01.CXCUSA
   BOP Current balanceEMU.BPBLTT01.NCCU
   BOP Current balance saEMU.BPBLTT01.NCCUSA
   BOP Capital account, creditEMU.BPCATC01.NCCU
   BOP Capital account, debitEMU.BPCATD01.NCCU
   BOP Capital balanceEMU.BPCATT01.NCCU
   BOP Cap. and fin. balance incl. reservesEMU.BPCFTT01.NCCU
   BOP Cap. and fin. balance excl. reservesEMU.BPCFTT02.NCCU
   BOP Income, creditEMU.BPCRIN01.NCCU
   BOP Income, credit saEMU.BPCRIN01.NCCUSA
   BOP Services, credit USDEMU.BPCRSE01.CXCU
   BOP Services, credit USD saEMU.BPCRSE01.CXCUSA
   BOP Services, creditEMU.BPCRSE01.NCCU
   BOP Services, credit saEMU.BPCRSE01.NCCUSA
   BOP Goods, exports USDEMU.BPCRTD01.CXCU
   BOP Goods, exports USD saEMU.BPCRTD01.CXCUSA
   BOP Goods, exportsEMU.BPCRTD01.NCCU
   BOP Goods, exports saEMU.BPCRTD01.NCCUSA
   BOP Income, debitEMU.BPDBIN01.NCCU
   BOP Income, debit saEMU.BPDBIN01.NCCUSA
   BOP Services, debit USDEMU.BPDBSE01.CXCU
   BOP Services, debit saEMU.BPDBSE01.CXCUSA
   BOP Services, debitEMU.BPDBSE01.NCCU
   BOP Services, debit saEMU.BPDBSE01.NCCUSA
   BOP Goods, imports USDEMU.BPDBTD01.CXCU
   BOP Goods, imports USD saEMU.BPDBTD01.CXCUSA
   BOP Goods, importsEMU.BPDBTD01.NCCU
   BOP Goods, imports saEMU.BPDBTD01.NCCUSA
   BOP Net errors and omissionsEMU.BPEOTT01.NCCU
   BOP Direct investment abroadEMU.BPFADI02.CXCU
   BOP Direct investment abroadEMU.BPFADI02.NCCU
   BOP Direct investment in reporting economyEMU.BPFADI03.CXCU
   BOP Direct investment in reporting economyEMU.BPFADI03.NCCU
   BOP Financial derivatives, netEMU.BPFAFD01.NCCU
   BOP Other investment, assetsEMU.BPFAOI02.NCCU
   BOP Other investment, liabilitiesEMU.BPFAOI03.NCCU
   BOP Portfolio investment, assetsEMU.BPFAPI02.NCCU
   BOP Portfolio investment, liabilitiesEMU.BPFAPI03.NCCU
   BOP Reserve assetsEMU.BPFARA02.NCCU
   BOP Financial balance incl. reservesEMU.BPFATT01.NCCU
   BOP Financial balance excl. reservesEMU.BPFATT02.NCCU










EUROPEAN UNION

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Production
 EUU.PRINTO01.IXOBSA.2 replaces E15.PRINTO01.IXOBSA.3. The series refers to the current composition of the European Union (27 countries) from 1990 onwards.Prior that date, the time series is linked to the original E15 series:
   EUU Production of total industry saEUU.PRINTO01.IXOBSA
Sales
 EUU.SLRTTO01.IXOBSA.2 replaces E15.SLRTTO01.IXOBSA.3. The series refers to the current composition of the European Union (27 countries) from 1995 onwards.Prior that date, the time series is linked to the original E15 series:
   EUU Total retail trade (Volume) saEUU.SLRTTO01.IXOBSA
Labour compensation
 The following series have been included:
   EUU Hourly earnings: manufacturingEUU.LCEAMN01.IXOB
   EUU Hourly earnings: manufacturing saEUU.LCEAMN01.IXOBSA
   EUU Hourly earnings: private sectorEUU.LCEAPR01.IXOB
   EUU Hourly earnings: private sector saEUU.LCEAPR01.IXOBSA
Producer Prices
 EUU.PPIAMP01.IXOB.1 replace E15.PPIAMP01.IXOB.2. The series refers to the current composition of the European Union (27 countries) for the entire period of the time series.
   EUU PPI ManufacturingEUU.PPIAMP01.IXOB
Consumer Price Index
 EUU.CPHPTT01.IXOB.1 replace E15.CPALTT01.IXOB.2. The series refers to the current composition of the European Union (27 countries) for the entire period of the time series.
   EUU HICP All itemsEUU.CPHPTT01.IXOB
 EUU.CPHPFD01.IXOB.1 replace E15.CPGDFD01.IXOB.2. The series refers to the current composition of the European Union (27 countries) for the entire period of the time series.
   EUU HICP FoodEUU.CPHPFD01.IXOB
 EUU.CPHPEN01.IXOB.1 replace E15.CPGREN01.IXOB.2. The series refers to the current composition of the European Union (27 countries) for the entire period of the time series.
   EUU HICP EnergyEUU.CPHPEN01.IXOB
 EUU.CPHPLA01.IXOB.1 replace E15.CPGRLE01.IXOB.2. The series refers to the current composition of the European Union (27 countries) for the entire period of the time series.
   EUU HICP All items non food non energyEUU.CPHPLA01.IXOB
Foreign Trade
 The following series have been included:
   EUU ITS Exports f.o.b. total saEUU.XTEXVA01.CXMLSA
   EUU ITS Imports c.i.f. total saEUU.XTIMVA01.CXMLSA
   EUU ITS Net trade (f.o.b. - c.i.f.) saEUU.XTNTVA01.CXMLSA