New system leading to more timely information

A system developed by Statistics New Zealand is leading to more timely releases of economic information, Statistics Minister Nicky Wagner says.

The Micro-economic Platform allows data from economic surveys and administrative sources to be stored, processed and analysed in a standard way.

“The platform’s flexibility means less time is required to process the data, so information to help the economy grow and prosper can be released sooner.  An example of this is it now takes a month less to produce annual statistics related to wholesale trade and manufacturing.

“As information is collected once and can be reused, businesses are also saving time by not filling in as many forms,” Ms Wagner says.

The Micro-economic Platform currently has data from more than 40 sources, including financial performance and GST data.

Work on the system is part of Statistics New Zealand’s transformation programme, which aims to transform the way official statistics are delivered, responding better to customer needs.