Quality
Eurostat produces and disseminates harmonised statistics that comply with high-quality standards. This is guaranteed through the European statistics code of practice of the European Statistical System (ESS).
The macroeconomic statistics underlying the MIP indicators are regulated by EU legislation, which is relevant for the ESS and the European System of Central Banks (ESCB). The quality assurance framework for MIP follows a 3-level structure:
First level: ESS-ESCB joint annual quality assessment report
The first level assesses the reliability and comparability of statistics and addresses relevant quality issues.It also enhances the communication on quality assurance of MIP statistics towards the European Parliament and the Council, policy-makers, and EU citizens. This level draws on the information gathered in levels 2 and 3.
ESS-ESCB quality assessment report
Second level: Domain specific quality reports
The second level consists of domain-specific quality reports produced by Eurostat and the European Central Bank (ECB) summarising the main findings for the euro area or the EU countries.
Reports assess the underlying compilation process and its robustness, describe its legal basis, and evaluate whether the statistics are in line with international statistical standards.
Third level: National quality reports
The third level consists of national quality reports (self-assessments) produced by the institution compiling the national statistics. Most of these reports are voluntarily published by EU countries on the website of the Committee on Monetary, Financial and Balance of Payments. Their availability depends upon the statistical domain.
The quality assurance of macroeconomic and financial statistics is secured by the ESS and the ESCB for statistical domains where data are produced also by central banks, such as balance of payments and financial accounts. The two systems share similar principles referring to the quality of statistical processes and outputs. These principles are reflected in the European statistics code of practice and the ESCB public commitment on European statistics, respectively.