DATASTREAM ECONOMICS CONTINUOUS ENHANCEMENT THROUGH 2013 This was a landmark year for Economics on Datastream – bringing more meta data and tools to inform and facilitate your work. The source attribute in Navigator’s series spotlight is now hyperlinked directly to the home pages of the agency. Press Release nodes are available in the Economics Explorer for the G7 countries, Australia, the BRIC, PIGS and other G20 markets. These series lists mirror the original news releases from which they were sourced – in terms of tables and indentation within them. There is a Focus tool to facilitate scrolling within the list. For forecast series from Oxford Economics, the International Monetary Fund, and the Economist Intelligence Unit, the break between historical and forecast observations is shown with the timespan row in the series spotlight. It was also an extraordinary year for revisions, involving changes to base periods, adoption of the latest Balance of Payments definitions, new industry classifications, and other methodological changes. In the series spotlight now, you can now access referrals which provide mnemonics of live series and discontinued counterparts, resulting from revisions. FORECASTS & EXPECTATIONS FOR LOOKING AHEAD Reuters Economics Polls Historical time series of the consensus results from Reuters Economics Polls are now available. Top experts in financial and economic markets regularly contribute estimates of what they conclude headline indicators will be when next released and those are compiled into consensus figures.This very important addition provides timely access to insight on 600 economic indicators from polls with an excellent and trusted track record. Coverage is global, encompassing 51 markets, and headline topics. Those include output, inflation, current account balance, consumer and business confidence, industrial production, retail sales, employment and unemployment, and others specific to an individual market. European Forecasts from AMECO The full Annual Macro-Economic Database (AMECO) of the European Commission's Directorate General for Economic and Financial Affairs (DG ECFIN) is now available. The collection includes over 38,000 annual series, with historical data from 1960 and short term forecasts over two-year horizon. The content details major indicators of national accounts, financial sector balances, public debt, external trade, labour market, and population. AMECO contains data for the European Union, the Euro Area, EU Member States, and candidate countries. It also covers other OECD countries i.e. United States, Japan, Canada, Switzerland, Norway, Iceland, Mexico, Korea, Australia and New Zealand. DGFIN sources a majority of the historical data from Eurostat, the Statistical Office of the European Commission, supplemented by other appropriate national and international sources. There are three releases of AMECO data per year: winter (released around February), spring (released around May), and autumn (released around November). In the winter release most of actual historical data end two years prior to the current year; while spring and autumn releases usually update historical data through the previous year. For example in the spring 2013 publication, historical actuals go through the year 2012 while forecasted values go to 2014. Date of issue: December 2013 Continuous Innovation in Content Datastream New Information on U.S. Consumers Over 2700 new monthly consumer confidence and expectation series from Thomson Reuters/University of Michigan are now available, doubling the content set. The team at the University expanded their questionnaire seeking more information on personal finances and housing markets from American respondents. As a result, the consumer survey series now cover responses on what’s current and expected for the following topics: financial and income situation, and contributing factor job security the retirement outlook investment values and outlook value of homes and selling conditions gasoline prices expectation 5 years out Markit Introduced Sector PMI’s Markit Economics has released detailed sector Purchasing Managers’ Indexes (PMI’s) to further provide timely economic signals. The 630 new series cover both Global and European Union PMI’s. The data are derived from survey panels of over 20,000 private sector companies around the world. Respondents are asked to state whether business conditions for a number of variables have improved, deteriorated or stayed the same compared with the previous month. These are aggregated to form raw PMI data in the same way that standard PMI data are calculated, with an end result of seasonally adjusted diffusion indices. Component indicators, such as output, order books, input prices, inventories and employment, are available for 8 major groups, 18 sectors and 8 further subsectors based on the Markit Sector classifications. Series are monthly with historical data from January 1998. These new PMI data are a contracted premium service. Clients may subscribe by contacting Markit Economics directly through email to: economics@markit. Short Term Energy Outlook Series from the Energy Information Administration’s (EIA) Short-Term Energy Outlook (STEO) are now available. The dataset consists of 524 series covering the energy sector. The monthly historical data generally start from 2009 and are forecasted up to December 2014. Coverage consists of coal, crude oil, liquid fuels, electricity, natural gas, petroleum refinery, regional gasoline, and weather data mostly in terms of supply, consumption, inventories and prices. Data are available for the United States however there are also some OPEC (Organization of the Petroleum Exporting Countries) and non-OPEC countries. DATA FROM THE ECB AND BIS FOR TRACKING CURRENT SITUATION ECB Bank Lending Survey Coverage of the European Central Bank’s Lending Survey has been extended by 6 questions for addition of another 376 series. Banks were asked about loan demand, credit lines, and credit standards – what the situation was in past 3 months and is expected. Data were collected for Euro area borrowers and series created for enterprises by size, consumer house purchases, and other consumer credit. The data are quarterly with history from Q1 2003. For more details on the statistics, please visit the ECB website via this link: http://www.ecb.int/stats/money/surveys/lend/html/index.en.html. Other ECB Additions Harmonised competitiveness indicators (HCIs). According to ECB, the HCIs provide “meaningful and comparable measures of euro area countries' price and cost competitiveness that are also Date of issue: December 2013 2 Continuous Innovation in Content Datastream consistent with the real effective exchange rates (EERs) of the euro.” The new series include HCIs based on either consumer price indices (CPI), GDP deflator, or unit labour costs. Monthly lending and interest rates for loans by monetary financial institutions (MFI) to nonfinancial corporations (NFC). The new coverage details rates for the entire maturity of loans granted by MFI’s to NFC’s in EU countries. Historical values start in January 2003. Bank for International Settlements The project to develop the full set of International Banking Statistics from the Bank for International Settlements (BIS) started in late 2012 and was completed early this year. Over 34,000 series are now available from BIS. The BIS collects information, on behalf of the Committee on the Global Financial System (CGFS), on cross-border activities of banks in financial and offshore centres. The data covers more than 7,700 banking entities from 44 countries and is compiled into consistent, comparable series and global aggregates. Approximately 25,000 series are from the Consolidated Banking Statistics, which detail worldwide claims of domestically owned banks. The consolidated statistics are composed of such claims and exposures on immediate borrower basis, with history from Q4 1983; and on ultimate risk basis, with history from Q1 2005. The consolidated statistics provide a measure of the risk of exposures of lenders’ national banking systems as they present banks’ on-balance sheet financial claims on rest of the world. The Locational Banking Statistics provide international financial claims and liabilities of all banks resident in the reporting countries, using standard balance of payments concepts. The new content encompasses two datasets: 1) Over 1,000 series for international positions by nationality of ownership of the reporting banks. Cross-border and international positions are available vis-à-vis official monetary institutions, banks and nonbanks, and related offices. 2) About 7,000 series detailing BIS reporting bank positions by country of residence of the counterparty. The claims and liabilities are available by instrument, sector and currency. Data is reported as stocks outstanding, with non-US dollar positions converted into US dollars at end-period exchange rates. Also included are valuation-adjusted changes as calculated by the BIS. The nationality series have history to Q4 1983 and the residence set to Q4 1977. NATIONAL COVERAGE FOR DOMESTIC ANALYSIS Over 42,000 series were added to the core database from national sources, across many topics. These were announced throughout the year in Content Updates. A major project for expanding African coverage was undertaken. Series to make a summary economic profile of countries were added for Cote d’Ivoire, Egypt, Ghana, Kenya, Nigeria, South Africa, and Uganda. A similar project was begun for Russia and CIS, with release of new Russian series. In addition, 4400 macroeconomic series were added to the Eurostat database for the EU member nations. Many of the series detailed HICPs and weights, balance of payments, government debt and accounts. INTERNATIONAL COLLECTIONS FOR COMPARABILITY International Monetary Fund IFS The tree presentation of the 180,000 series from IMF International Financial Statistics has been redone to mirror current categorization by the International Monetary Fund and ensure comparability. In addition, the series can now be viewed in either subject or area hierarchies. The current IMF-IFS subject groups are: Date of issue: December 2013 3 Continuous Innovation in Content Datastream Balance of Payments, Exchange Rates, External Trade, Financial Indicators, Fund Accounts, Government Finance, International Investment Position, International Reserves, Labour Markets, National Accounts, Price Indices, Industry Indicators, and Commodity Prices. For more details, see Content Update #6269. OECD Annual National Accounts Coverage has been expanded by 10,351 series on General Government Accounts for France, Ireland, Japan, Luxembourg, and the Slovak Republic. The new annual series detail government expenditures of the countries. World Bank The World Bank renamed their Global Development Finance database to International Debt Statistics and made a few changes in overall contents. There were 2152 series that the Bank has ceased to publish altogether and which were discontinued. Another 799 series that were in the GDF and duplicates of series in the World Development Indicators dataset are not included in the IDS. OTHER Dissolution of Netherlands Antilles and Ramifications The Netherlands Antilles, which was established in 1954 as an autonomous entity of the Kingdom of Netherlands, ceased to exist in 2010 due to conflict among the island members. As a result of the dissolution, the three islands of St. Eustatius, Saba and Bonaire (Caribbean Netherlands) became special municipalities of Netherlands, officially considered public bodies under the Dutch Law. Curacao and St. Maarten, on the other hand, became autonomous countries. As a result, series for Netherlands Antilles have been discontinued in the database and series created for Curacao and St. Maarten. New EU member Croatia joined the European Union which caused revision or creation of EU aggregate series on the new definition. Date of issue: December 2013 4