Limitations and Issues

Time Lag in the Availability of Data

1. Monthly Integrated Survey of Selected Industries (MISSI) - only 2 months data are available
2. Air transport data from other airlines (Air Philippines, Asian Spirit & Grand Air - 1 to 2 quarters lag)
3. Banks & non-banks financial statements from Bangko Sentral ng Pilipinas (BSP)
   commercial & thrift banks - 1 quarter lag
   rural banks  - 1 year lag
   BSP - 2 quarters lag
   non-banks - 1994 last available data
4. Imports from NSO-sometimes only 2 months are available
5. BOP-only 2 months data are available
6. Wholesale Price Index and Retail Price Index - only 1 to 2 months are available

Survey - based Data Response Rate by Sector

Data available during the Quarterly Estimation
(with preliminary 3 months data)

1. Foreign Trade Statistics (Exports) from NSO
2. Building Permits (number, floor area, value) from NSO
3. QSE data on gross revenue, employment and compensation from NSO
4. Data on cash allocation of national and local governments from DBP
5. Deployment data from POEA
6. Production data for agriculture, fishery and forestry from BAS
7. Production data on metallic mining from MGB and Chamber of Mines
8. Production and price data on crude oil and coal from DOE
9. Sales data from NPC, MERALCO and MWSS
10. Data on Government-Owned and Controlled Corporations (GOCCs) from DOF
11. Revenue-Passenger-Kilometer data from PAL
12. Number of Passengers from Cebu Pacific
13. Inventory data for:
       a. rice and corn from BAS
       b. sugar from SRA
       c. crude oil and other petroleum products from DOE
       d. change in inventory from GOCCs

Need to Update/Improve Parameters

1. GVAR - Establishment-based sectors based on 1988 CE
2. Undercoverage ratio
        a.  Establishment-based sectors based on 1988 CE
        b.  Panned gold based on 1988 study conducted by IAC
        c.  AFF based on 1980 Census of Agriculture & Fishery

Appropriate deflators

• PCE - a true commodity flow approach is not feasible due to data limitations

PCE = P + M - DS - FCF - GGCE - X - II

where:
PCE - Pesonal Consumption Expenditure
P - Production
M -  Imports
DS - Change in Stock
FCF - Fixed Capital Formation
GGCE - General Government Consumption Expenditure
X - Exports
II - Intermediate Inputs