Quarterly Update on the Special Data Dissemination Standard
Fourth Quarter 2007
April 11, 2008
Observance Status
As of the end of the fourth quarter of 2007, all 64 SDDS subscribers were in observance of the SDDS requirements for the coverage, periodicity, and timeliness of the data and for the dissemination of advance release calendars (ARCs) (Table 1). The IMF's Dissemination Standards Bulletin Board (DSBB) disseminates a complete list of subscribers. Observance of SDDS metadata requirements improved with an increase in posted summary methodologies.
| Table 1. SDDS Indicators |
| Indicators |
As of December 31, 2006 |
As of September 30, 2007
|
As of Decenber 31, 2007 |
| Number of subscribers |
64 |
64 |
64 |
| Number of countries officially in observance1 |
64 |
64 |
64 |
| Number of summary methodologies posted2 |
1,275 |
1,304 |
1,308 |
1 Observance of the requirements of the SDDS with respect to the coverage, periodicity, and timeliness of the data and the use of ARCs. Other elements of the SDDS dealing with the integrity and quality of the data are on a self-disclosure basis, with subscribers providing information on which users can make their own judgments. A subscriber experiencing difficulties in meeting SDDS requirements is not automatically in 'nonobservance' of the SDDS. When deviations from SDDS requirements occur, the IMF staff tries to resolve the issue with the subscriber, and then, if necessary, through the Executive Director. If these efforts fail, the matter is brought to the attention of the subscriber's Governor for the Fund. A subscriber is officially declared in 'nonobservance' only when a note to that effect is posted on the DSBB.
2 Out of a required total of 1,360 summary methodologies (21 data categories per subscriber, plus 16 subscribers that are currently disseminating the encouraged forward-looking indicators). All subscribers are disseminating summary methodologies for most data categories.
|
Monitoring Punctuality of Data Releases
The IMF monitors the punctuality of data releases of each of the SDDS subscribers. Punctuality is monitored by comparing the first appearance of new information on the subscriber's National Summary Data Page (NSDP) against the last release date announced in the subscriber's ARC for each of the SDDS data categories. The ARC release dates should meet the SDDS timeliness requirements for the various data categories.
Table 2 contains monitoring results for the fourth quarter of 2007, showing comparisons with results for the third quarter of 2007, and those for the fourth quarter of 2006.
Compared with the fourth quarter of 2006, the punctuality of data releases for the fourth quarter of 2007 improved for monthly, quarterly and annual data. The punctuality of data releases for general government operations and international investment position substantially increased, and there were also improvements for the data releases on employment, unemployment, consumer price index, analytical accounts of the central bank, reserve templates and external debt.
Compared with the third quarter of 2007, the punctuality of data releases for the fourth quarter of 2007 slightly improved for monthly, quarterly and annual data, as a result of the subscribers' better dissemination practices.
Table 2. Monitoring Punctuality of Data Releases
Quarter 3 2000—Quarter 4 20071 |
| Data Categories |
Historical Average since Q3/00
(standard deviation) |
Q4/06 Revised |
Q3/07 Revised |
Q4/07 |
| Monthly data |
92.8
(4.4) |
90.2 |
91.0 |
91.9 |
| Production index |
94.5
(5.1) |
91.1 |
91.0 |
89.9 |
| Consumer prices |
97.1
(4.4) |
92.6 |
94.2 |
96.8 |
| Producer prices |
95.4
(4.2) |
92.4 |
91.4 |
93.5 |
| Central government operations |
83.2
(5.2) |
82.2 |
80.8 |
84.8 |
| Analytical accounts of banking sector |
92.1
(4.5) |
90.5 |
92.5 |
90.7 |
| Analytical accounts of central bank |
92.2
(5.8) |
91.1 |
91.1 |
94.2 |
| Official reserves |
92.7
(4.3) |
90.1 |
91.7 |
89.5 |
| Reserves template |
94.1
(5.1) |
91.7 |
92.1 |
95.2 |
| Merchandise trade |
93.7
(5.1) |
90.1 |
94.3 |
92.6 |
| Quarterly data |
93.2
(5.8) |
90.3 |
89.6 |
91.3 |
| National accounts |
94.1
(7.7) |
92.2 |
85.7 |
92.2 |
| Employment |
95.1
(5.7) |
91.5 |
91.3 |
95.3 |
| Unemployment |
95.4
(4.9) |
91.3 |
89.7 |
95.1 |
| Wages and earnings |
93.5
(6.5) |
91.4 |
91.7 |
87.5 |
| Central government debt |
86.3
(7.0) |
89.7 |
84.1 |
84.5 |
| Balance of payments |
94.9
(6.0) |
88.5 |
94.8 |
90.5 |
| External debt |
94.9
(6.0) |
90.3 |
89.9 |
94.1 |
| Annual data |
90.2
(4.2) |
79.7 |
88.8 |
91.2 |
| General government operations |
86.1
(5.7) |
78.8 |
91.9 |
90.9 |
| International investment position |
94.3
(6.7) |
80.6 |
85.7 |
91.4 |
| 1Percentage of data categories subscribers disseminated on their National Summary Data Pages (NSDP) in accordance with SDDS timeliness requirements (quarterly averages). |
DQAF Conversion of Metadata
During the Sixth Review of the IMF's Data Standards Initiatives, the Executive Board of the International Monetary Fund endorsed the further integration of the SDDS and the GDDS into the Fund's Data Quality Program by reformatting countries' SDDS/GDDS metadata according to the Data Quality Assessment Framework (DQAF). At the time of this report, the staff has converted the metadata for all 64 countries, and DQAF metadata for 58 countries have been posted on the DSBB.
The DQAF metadata for the remaining six SDDS subscribers are being reviewed by the country authorities. Upon their approval of the metadata, the metadata will be posted on the DSBB in the coming weeks.
Dissemination Standards Bulletin Board