Short-term business statistics (STS) are economic statistics published by Eurostat, the statistical office of the European Commission. They cover all member states of the European Union and – in some areas – also third countries, and provide aggregated results for the euro area and the EU.
Short-term business statistics provide information on the economic development of four major domains: industry, construction, retail trade, and other services. These domains are defined in relation to a classification of economic activities, the NACE Rev.2 (Statistical Classification of Economic Activities in the European Community, second revision).
For the four domains the following variables are reported (most on a monthly, some on a quarterly basis):
- Industry: Production, turnover (domestic and non-domestic), number of persons employed, hours worked, gross wages and salaries, output prices (domestic and non-domestic), import prices.
- Construction: Production (total, of buildings and of civil engineering), number of persons employed, hours worked, gross wages and salaries, construction costs (material costs, wage costs), construction permits.
- Retail trade and repair: Turnover, retail trade volume, number of persons employed, hours worked, gross wages and salaries.
- Other services: Turnover, output prices (service producer prices), number of persons employed, hours worked, gross wages and salaries.
The legal authority for the European short-term business statistics is Regulation EC No 1165/98, as amended by Regulation EC No 1158/2005, and further implementing and amending regulations.
- ^Eurostat – Statistics Explained: Short-term business statistics – legal base
- ^Council Regulation (EC) No 1165/98 of 19 May 1998 concerning short-term statistics, Official Journal of the European Communities. L 162, 1998-06-05, pp. 1-15.
- ^“Regulation (EC) No 1158/2005 of the European Parliament and of the Council of 6 July 2005 amending Council Regulation (EC) No 1165/98 concerning short-term statistics”, Official Journal of the European Communities. L 191, 2005-07-22, pp. 1-15.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.