Quality of statistics underlying the MIP indicators

The macroeconomic statistics underlying the MIP indicators are compiled by both the European Statistical System (ESS) and the European System of Central Banks (ESCB) within their respective spheres of competence. The ESS and the ESCB continuously apply statistical quality assurance  mechanisms to ensure that these statistics are reliable and comparable across Member States.

Since the responsibilities for the production of some of the statistics underlying the MIP indicators are shared between the ESS and the ESCB, the ECOFIN Council requested the ESS and the ESCB to continue working together on improving the quality of the statistics underlying the MIP scoreboard and on ensuring their comparability. Moreover, in its Opinion of November 2013, the Economic and Financial Committee (EFC) “invited the
ESS and the ESCB to continue this close cooperation, including through the preparation of a work programme” to ensure the reliability and comparability of the statistics underlying the MIP.

The two systems producing European statistics, cooperating via the CMFB and the ESF, responded by taking a number of actions, some of which are explained below. 


Memorandum of Understanding between Eurostat and the ECB/Directorate General Statistics on the quality assurance of statistics underlying the Macroeconomic Imbalances Procedure 

            Actual reports are published in the dedicated Publications area (link)

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