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Improving Timeliness for Short-Term Economic Statistics

  • Economics


Effective business cycle analysis, and indeed the monitoring of a countries economic performance from a policy perspective, requires access to timely high quality short-term economic statistics (STES). Consequently in recent years there has been a lot of pressure on national statistics organisations (NSOs) to better serve their users by improving the timeliness of release for their short-term economic indicators. In response to this demand, NSOs have focused on improving the efficiency and methodology of their statistical production processes. So this begs the question: where would one look to find comprehensive documentation on good practices used by NSOs to improve the timeliness of their short-term economic statistics? The answer is the STES Timeliness Framework, a structured collection of documentation on a range of good practices currently used by NSOs for improving timeliness, reducing costs or improving accuracy for short-term economic statistics. This resource is freely available in the form of an intuitive, user friendly website developed by the OECD Short-Term Economic Statistics Expert Group at This report outlines the principles behind the development of this framework, explains its structure and reviews its current usage by statisticians.

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