NSCB Resolution No. 7
Series of 1996
APPROVING THE ACTION PLAN ON THE LEADING INDICATOR SYSTEM OF THE PHILIPPINES
WHEREAS, the system of the leading economic indicators is a significant area for the application of statistical methods for short term business and economic forecasting;
WHEREAS, the National Statistical Coordination Board (NSCB) through a project funded by the Canadian International Development Agency (CIDA), has identified thirteen leading economic indicators to forecast impending upturns or downturns in the economy;
WHEREAS, the construction of a composite leading index based on the identified leading indicators necessitates the timely generation and dissemination of data inputs from concerned agencies;
WHEREAS, the NSCB Technical Staff has prepared an Action Plan to operationalize and eventually institutionalize the system of leading economic indicators for the Philippines;
NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, that the Board approve the Action Plan for adoption by concerned entities.
Approved this 12th day of August 1996.
ACTION PLAN
| ACTIVITY | AGENCY RESPONSIBLE | TIME FRAME | |
| 1. | Conduct of consultative workshop with data producers | NSCB | Sept 1996 |
| 1.1 Establishment of arrangement for data support | |||
| 2. | Compilation of requisite data (updating for the initial release) | NSCB | Oct-Nov 1996 |
| 3. | Generation of composite leading indices (estimation for the initial release) | NSCB | Dec 1996 |
| 4. | Dissemination workshop/release of data | NSCB | Jan 1997 |
| 5. | Institutional Building | NSCB | |
| 5.1 Documentation | Feb-Apr 1997 | ||
| 5.2 Systems flow | Mar-June 1997 | ||
| 5.3 Training of staff | July-Dec 1997 | ||
| 6. | Study on the possible designation of requisite data series/activity | NSCB | Sept-Dec 1997 |
| 7. | Continuing activities | ||
| 7.1 Development of new indicators for possible inclusion in the construction of the composite leading index | NSCB | ||
| 7.2 Development/improvement of existing methodology | NSCB |