Project description

The objective of the FLASH project is to produce early estimates of the main Quarterly National Accounts aggregates of the European Economic and Monetary Union (EEMU) and of the European Union (EU).

The need for flash estimates is underlined in Chapter 12 of the new version of the European System of Accounts (edited by EUROSTAT, 1995). The target delay is 40-45 days after the end of the reference period; such a delay seems to be "reasonable" according to experience in the United Kingdom and USA, and earlier estimates would suffer a consequent loss in reliability.

The project will supply a coherent system able to help in conducting short-term economic analysis and in taking monetary policy decisions, while the shortcomings of the delay in availability of the official quarterly figures would be avoided.