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 Sep-96
  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-96
4 Dissemination workshop/release of data NSCB Jan-97
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