Quarterly Update on the Special Data Dissemination Standard
Second Quarter 2008
October 8, 2008
Observance Status
As of the end of the second quarter of 2008, 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 relative to the first quarter of 2007 with the increase in posted summary methodologies.
| Table 1. SDDS Indicators |
| Indicators |
As of June 30, 2007 |
As of
March 31,
2008 |
As of June 30, 2008 |
| Number of subscribers |
64 |
64 |
64 |
| Number of countries officially in observance1 |
64 |
64 |
64 |
| Number of summary methodologies posted2 |
1,294 |
1,316 |
1,330 |
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 SDDS subscriber. 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 second quarter of 2008, showing comparisons with results for the first quarter of 2008, and those for the second quarter of 2007. Compared with the second quarter of 2007, the punctuality of data releases for the second quarter of 2008 improved for monthly data, and a small percentage for quarterly and annual data. The punctuality of data releases for production index, producer price index, central government operations, analytical accounts of the banking sector, analytical accounts of the central bank, official reserves, merchandise trade, national accounts, central government debt, external debt and general government operations, substantially increased, but declined for reserves template, employment, and unemployment. Compared with the first quarter of 2008, the punctuality of data releases for the second quarter of 2008 slightly increased for monthly and quarterly data, but declined in a higher percentage for the annual data.
Table 2. Monitoring Punctuality of Data Releases
Quarter 3 2000—Quarter 1 20081 |
| Data Categories |
Historical Average since Q3/00
(standard deviation) |
Q2/07 Revised |
Q1/08 Revised |
Q2/08 |
| Monthly data |
89.7
(4.3) |
90.1 |
91.1 |
92.5 |
| Production index |
91.3
(4.9) |
92.7 |
93.8 |
97.2 |
| Consumer prices |
93.9
(4.3) |
95.8 |
95.2 |
95.3 |
| Producer prices |
92.2
(4.1) |
89.8 |
93.0 |
94.1 |
| Central government operations |
80.4
(5.1) |
79.1 |
78.3 |
81.6 |
| Analytical accounts of banking sector |
89.1
(4.4) |
90.8 |
91.3 |
91.6 |
| Analytical accounts of central bank |
89.3
(5.7) |
91.1 |
90.9 |
92.1 |
| Official reserves |
89.6
(4.2) |
86.5 |
91.1 |
91.7 |
| Reserves template |
91.1
(5.0) |
93.2 |
93.2 |
90.6 |
| Merchandise trade |
90.7
(5.0) |
92.1 |
93.2 |
96.3 |
| Quarterly data |
90.0
(5.6) |
91.5 |
89.3 |
91.7 |
| National accounts |
90.7
(7.5) |
92.1 |
85.5 |
93.4 |
| Employment |
91.9
(5.6) |
95.3 |
93.3 |
89.8 |
| Unemployment |
92.1
(4.8) |
95.1 |
91.1 |
91.0 |
| Wages and earnings |
90.2
(6.3) |
91.2 |
87.0 |
91.2 |
| Central government debt |
83.5
(6.7) |
84.5 |
85.8 |
88.7 |
| Balance of payments |
91.7
(5.9) |
93.8 |
93.8 |
94.7 |
| External debt |
89.6
(5.8) |
88.6 |
88.6 |
92.8 |
| Annual data |
84.1
(4.3) |
82.1 |
87.0 |
83.1 |
| General government operations |
80.2
(6.1) |
75.0 |
77.1 |
76.9 |
| International investment position |
87.7
(6.9) |
89.1 |
96.9 |
89.4 |
| 1Percentage of data categories subscribers disseminated on their NSDP in accordance with SDDS timeliness requirements (quarterly averages). |
DQAF Conversion of Metadata Completed
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 into the Fund’s Data Quality Program by reformatting countries’ SDDS metadata according to the Data Quality Assessment Framework (DQAF). This process has now been completed.
Dissemination Standards Bulletin Board