1.2.6. Data processing
Variables are defined in such a way that they are as homogeneous as possible over the countries. Breaks in underlying series are corrected as far as possible.
The following treatments are applied to national data, when necessary:
Back-splicing of data: For several countries, some historical data have been estimated by the OECD Economics Department; if countries revise their
methodologies but only supply revised data for recent years, the historical data are estimated by mechanically linking the new and old series. Prior to the first year for
which actual historical data are available, data have been spliced backward using the growth rates from the previous national accounts.
Calculation of chained volume measures: a common computation of chained volume measures, which may differ from national methodologies, has been
introduced over the forecast period for most of the countries and the level of a particular volume aggregate is thus no longer the simple summation of the level of
its components. Contributions to changes in real GDP, shown in the OECD Economic Outlook Annex table, but not included in the database release, have
been based on a Laspeyres chain-type aggregation: the stock building contribution is computed as the weighted difference between the growth of real gross capital
formation investment including changes in inventories and the growth of real gross fixed capital formation investment excluding changes in inventories, the
weights reflect the share of the different components of GDP at current prices in the previous period; similarly, the net trade contribution is computed as the
weighted difference between the growth of real exports and the growth of real imports, the weights reflect the share of the different components in GDP at
current prices in the previous period.
Data processing
Data import from various sources
Data checking Break removals
Extension in the
past Calculation of
indicators Metadata, etc.
National and international
data bases
Annual and quarterly national
accounts Financial statistics
Labour force statistics
Balance of payments, etc.
Economic Outlook
Expert judgement Assessing current
situation Policy settings
Economic and statistical models
Analytical
techniques, etc.
OECD Forecasts
1.3. Economic Outlook sources and methods
1.3.1. Online Sources Methods
The Economic Outlook Sources Methods are described on the OECD Economic Outlook website:
http:www.oecd.orgecooutlookeconomicoutlook.htm StatisticsSources and Methods of the Economic Outlook
Direct link: http:www.oecd.orgecosources-and-methods.htm
Online material includes detailed information on: Key facts about the OECD Economic Outlook
Forecasting methods and analytical tools Economic policies and other assumptions
Aggregation methods References and more...
1.3.2. General assessment of the macroeconomic situation
The policy and other assumptions underlying the projections are described in the “
General Assessment of the Macroeconomic Situation
”, which is available on line on the OECD website:
http:www.oecd.orgecooutlookeconomicoutlook.htm
1.3.3. Frequently Asked Questions FAQs
Some of the frequently asked questions are listed on the OECD Economic Outlook website. For example:
When is the Economic Outlook database updated? How can I access previous editions?
How are growth rates calculated? Are the series final, preliminary or projected? What are the last historical points?
What are the differences between the SNA08 and Maastricht definitions of government financial liabilities?
Why do OECD data for gross financial liabilities differ from IMF estimates? How are country-groupings, such as the euro area, computed?
What is the difference between the revenue statistics and the SNA government revenues?
What is the difference between public debt and government financial liabilities? Answers to these questions are given on the OECD Economic Outlook website:
http:www.oecd.orgecooutlookeconomicoutlook.htm Statisticsfrequently asked questions FAQs
Direct link: http:www.oecd.orgecooutlookfaqs.htm
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