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3 5II.1Macroecono 5 5 6 8 9 9 III.ANNEX1-KEYFEATURESOFTHEQUALITYASSE 15 16 19 26 IV.ANNEX2-MIPSCOREBOARDINDICATORS 40V.ANNEX3-MIPAUXILIARYINDICATORS 41 42EXECUTIVESUMMARY3EXECUTIVESUMMARY3eurostat到NationalAccountsconsistencytotheCMFB.ThemostrecentjointE1https://ec.europa.eu/eurostat/documents/10186/7722897/Final-EXECUTIVESUMMARY4EXECUTIVESUMMARY4eurostat到4https://ec.europa.eu/eurostat/web/government-finance-statistics/legislation5GENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIP5eurostat到II.1MACROECONOMICSTATISTICS–ATTHECOREOFMIPINDICATORSlegalframeworksreflectingtheirrespeenhancements7.II.2AGGREGATESFORTHEEUANDEUROAREAhttps://ec.europa.eu/eurostat/documents/13019146/13574152/20220329_List_other_national_statistical_a71b-ccbd-bda1-7707-bf04c7b633e5?t=16bytheEuropeanCentralB8https://economy-finance.ec.europa.eu/economic-and-fiscal-governance/economic-governance-review_en6GENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIP6eurostat到transmissionsfromcountriII.3EUROPEANLAWANDQUALITYASSURANCEPROCESSESASDETERMINANTSOFSTATISTICALQUALITY9https://ec.europa.eu/eurostat/databrowser-backend/api/public/explanatory-notes/get/Info_note_MIP_European_aggre10Regulation2023/734:https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R07347GENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIP7eurostat到withinternationalstatisontheCMFB’swebsiteand/oronthewebsiteofthenationalstatistII.3.1IMPLEMENTATIONOFTHEMEMORANDUMOFUNDERSTANDINGBETWEENEUROSTATANDTHEEUROPEANCENTRALBANK/DGSTATI11https://eur-lex.europa.eu/legal-content/EN/TXT/?qid=1413797867069&uri=CELEX:32014R072412https://www.cmfb.europa.eu/main-topics/mip-quality13http://ec.europa.eu/eurostat/documents/10186/7722897/Final-signed-MoU-ESTAT-ECB.pdf8GENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIP8eurostat到II.4HIGHQUALITYANDCOST-EFFECTIVEMACROECONOMICSTATISTICSstatisticalsurveys,adminijudgment.9GENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIP9eurostat到GENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIPeurostat到15MoreinformationisavailableonEurostatwebsite:https://ec.europa.eu/eurostat/web/esa-2010/impleGENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIPeurostat到GENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIPeurostat到financialaccounts)andverticaldJournal20,andwillenterintofo18https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32023R14702021:consolidatedversion.20https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32023R0734GENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIPeurostat到21https://www.ecb.europa.eu/stats/pdf/Recommendations_on_Vertical_consistency.en.pdfhttps://ec.europa.eu/eurostat/documents/499359/499434/Recommendations+on+Vertica23https://www.ecb.europa.eu/stats/pdf/vertical_reconciliation_summary_table.en.pdfGENERALCONSIDERATIONSONTHEQUALITYOFTHESTATISTICSUNDERLYINGTHEMIPeurostat到https://ec.europa.eu/eurostat/documents/1015035/2041369/Staff+working+document+reporting+to+thed+the+Council+on+the+quality+of+fiscal+data+reported+by+MS+in+2022.pdf/ee638f18-d12e-62ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到A.INSTITUTIONALISSUES(GNIRegulation).https://eur-lex.europa.eu/legal-co32QualityreportonNANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到C.QUALITYASSESSMENTOFOUTPUTANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到33Countryinformation:https://ec.europa.eu/eurostat/documents/24987/6624264/Metadata_particularities.pdfhttps://ec.europa.eu/eurostat/documents/737960/9861115/Benchmark_revisions_data_availab34https://ec.europa.eu/eurostat/web/esa-2010/data-revisionANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到III.2EXTERNALIMBALANCESANDCOMPETITIVENESSIII.2.1BALANCEOFPAYMENTSANDINTERNATIONALINVESTMENTPOSITIONINDICATORSINSTITUTIONALISSUESbalanceofpayments,internatioANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到COMPILATIONPROCESSbasedsystems,asQUALITYASSESSMENTOFOUTPUT38AvailableontheECB’swebsite.ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到III.2.2REALEFFECTIVEEXCHANGERATESTATISTICSINSTITUTIONALISSUESinunderlyingdatasets.COMPILATIONPROCESSdeflators.QUALITYASSESSMENTOFOUTPUT41Seee.g.theEuropeanCommission’squarte42SeetheReportonquality,sourcesandmethodsandtheComparisonofConsumerPricedeflatedREER.ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到availableforsuchcountries).ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到INSTITUTIONALISSUESgenerallyindicateonlyafewgapsincompletenessandtimeCOMPILATIONPROCESS43Seehttp://ec.europa.eu/eurostat/web/macroeconomic-imbalances-procedure/methodology.ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到QUALITYASSESSMENTOFOUTPUTPoland(bothin2010),ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到INSTITUTIONALISSUES46https://ec.europa.eu/eurostat/documents/7590317/0/Technical-Manual-OOH-HPI-2017/.47HandbookonResidentialPropertyPricesIndices:https://ec.europa.eu/eurostat/docu48HPImetadataareavailablefromEurostat’swebsiANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到COMPILATIONPROCESSQUALITYASSESSMENTOFOUTPUT(thehouseholdfinalconsumpti49SeeCountryrevisionsathttps://ec.europa.eu/eurostat/web/housing-price-statistics/methodologyANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到III.3.2FINANCIALACCOUNTSSTATISTICSINSTITUTIONALISSUES2021:consolidatedversion.53http://www.ecb.europa.eu/pub/pdf/other/ecbstatisticsqualityframework200804en.pdf54https://www.ecb.europa.eu/stats/macroeconomic_and_sectoral/sector_accounts/html/index.en.html55https://ec.europa.eu/eurostat/en/web/products-statisticaANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到sectionoftheCMFBwpaymentsstatistics).COMPILATIONPROCESS56https://www.cmfb.europa.eu/main-topics/mip-qualitydetailssee,“OtherfinancialinsANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到entriesinthefinancialmonitoringthecohereANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到QUALITYASSESSMENTOFOUTPUTANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到III.3.3GOVERNMENTFINANCESTATISTICSINSTITUTIONALISSUES60https://ec.europa.eu/eurostat/en/web/products-statistical-reports/w/ks-ft-23-002totheTreatyestablishingtheEuropeanCANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到TheSGPcontainstwoarms–theprevCOMPILATIONPROCESSQUALITYASSESSMENTOFOUTPUTincludingforquarterlyg62Theso-calledEDPinventoriesareavailableontheEurostatwebsite.ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到III.3.4LABOURMARKETSINSTITUTIONALISSUES(forseasonalworkersdu64Availableat:https://ilostat/wcmsp5/groups/public/---dgreports/---stat/documents/normativeinstrument/wcmANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到multiannualindicatorsarecalculareavailabletostartwoCOMPILATIONPROCESS65Allthesereportsareavailableathttps://ec.europa.eu/eurostat/web/lfs/qualityANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到thencalculatedfromtheaveragedQUALITYASSESSMENTOFOUTPUTRevisionsofpreviouslyre6667ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到Comparability-overtimehttps://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv:OJ.LI.2019ANNEX1-KEYFEATURESOFTHEQUALITYASSESSMENTOFTHEMACROECONOMICSTATISTICSUNDERLYINGTHEMIPeurostat到Comparability-geoANNEX2-MIPSCOREBOARDINDICATORSeurostat到IndicatorStatisticaldomainCurrentaccountbalanceas%ofGDP,3yearaverageNetinternationalinvestmentpositionas%ofGDPRealeffectiveexchangerate,42tradingpartners,HICP/CPIdeflator,3year%changeExportmarketshareas%ofworldexports,5year%changeNominalunitlabourcost(2015=100),3year%changeHousepricesindex(2015=100),deflated,1year%changePrivatesectorcreditflowas%ofGDP,consolidatedPrivatesectordebtas%ofGDP,consolidatedGeneralgovernmentgrossdebt(EDP)as%ofGDPUnemploymentrate,3yearaverageTotalfinancialsectorliabilities,non-consolidated,1year%changeActivityRate,%oftotalpopulationaged15-64years,3yearschangeinppLong-termUnemploymentrate,%ofactivepopulationaged15-74,3yearschangeinppYouthUnemploymentRate,%ofactivepopulationaged15-24,3yearschangeinppBoP-IIP/NABoP-IIP/NABoP-IIPHousingpricestatistics-NAEDP/GFSANNEX3ANNEX3-MIPAUXILIARYINDICATORSeurostat到•RealGDPas1year%change•Grossfixedcapitalformationas%ofGDP•GrossdomesticexpenditureonR&Das%ofGDP•Currentpluscapitalaccount(NetLending/Borrowing)as%ofGDP•Netinternationalinvestmentpositionexcludingnon-defaultableinstrumentsas%ofGDP•Directinvestmentliabilities-flowsas%ofGDP•Directinvestmentliabilities-stocksas%ofGDP•Nettradebalanceofenergyproductsas%ofGDP•Realeffectiveexchangerates–euroareatradingpartnersas3year%change70•Exportperformanceagainstadvancedeconomiesas5year%change•Termsoftradeas5year%change•Exportmarketshareinvolumeas1year%change71•Labourproductivityas1year%change•Grossnon-performingloansofdomesticandforeignentitiesas%ofgrossloans72•UnitlabourcostperformancerelatedtoEAas10year%change•Housepriceindex(2015=100)-nominalas3year%change•Residentialconstructionas%ofGDP•Householddebt,consolidated(includingNPISH)as%ofGDP•Consolidatedbankingleverage,domesticandforeignentitiesastotalassets/totalequity73•Employmentas1year%change•Activityrateas%oftotalpopulationaged15-64•Longtermunemploymentrateas%ofactivepopulationaged15-74•Youthunemploymentrateas%ofactivepopulationaged15-24•Youngpeopleneitherinemploymentnorineducationandtrainingas%oftotalpopulationaged15-24•Peopleatriskofpovertyorsocialexclusionas%oftotalpopulation•Peop

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