92001E1017

WRITTEN QUESTION E-1017/01

by Christopher Huhne (ELDR) to the Commission

(30 March 2001)

Subject: Publication of economic statistics

1. Does the Commission agree that US practices in the publication of market-sensitive economic statistics are a proper benchmark for euro area practices?

2. Will it then indicate whether its objective is to match US practices and, if so, on what timescale and by what means?

Answer given by Mr Solbes Mira on behalf of the Commission

(19 June 2001)

The Commission (Eurostat) is currently analysing American practices in the realm of market-sensitive economic statistics. A report comparing Community and American practices will be submitted in autumn 2001 to the Statistical Programme Committee (SPC). This report is expected to explain performance differentials and come up with recommendations for improving the performance of the Community system most notably in terms of timeliness. The SPC will discuss this report and its recommendations and take the necessary steps for improving the timeliness of economic statistics for the Community.

It should be noted that important actions are already under way in the framework of the Action Plan on European Monetary Union (EMU) Statistical Requirements prepared by the Commission in close co-operation with the European Central Bank (ECB) at the request of the (Ecofin) Council. If it will be possible for the Community to meet American standards in terms of timeliness, however, remains to be seen given the fact that the Community and American statistical systems are very different. Moreover, American practices are not always considered to be superior to Community practices.