128-rsi-quick-guide

128-rsi-quick-guide - A Quick Guide to the Retail Sales...

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A Quick Guide to the Retail Sales Index
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Contents 1 Introduction 5 2 Defining retail trade 6 3 Scope and Coverage 8 4 Data collection and sampling 8 4.1 Questionnaire 8 4.2 Mode of collection 9 4 . 3 S a m p l i n g 9 5 Editing validation and imputation 10 5.1 Editing and Validation 10 5 . 2 I m p u t a t i o n 10 6 E s t i m a t i o n 1 1 7 Indexing 11 7.1 Reference period 11 7 . 2 D e f l a t i o n 11 7.3 Chain volume measures 12 7.4 I m p l i e d d e f l a t o r 12 8 Time series analysis 12 9 Confidentiality and disclosure 13 1 0 D i s s e m i n a t i o n 1 3 11 Reliability of estimates 14 12 Revisions 14 13 Comparability with other retail sales indicators 15 13.1 BRC United Kingdom Retail Sales Monitor (RSM) 15 13.2 CBI Distributive Trade’s Survey (DTS) 15 14 Methods reviews and updates 16
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A Quick Guide to the Retail Sales Index 1. Introduction The Retail Sales Index (RSI) measures the value and volume of retail sales in Great Britain on a monthly basis. The RSI is a key economic indicator and one of the earliest short-term measures of economic activity. It is used to estimate consumer spending on retail goods and the output of the retail sector, both of which are used in the compilation of the National Accounts. The main output measures include value and volume estimates, in both seasonally adjusted and non-seasonally adjusted forms. The value estimates reflect the total turnover that businesses have collected over a standard period, while the volume estimates are calculated by taking the value estimates and adjusting to remove the impact of price changes. The value and volume measures of retail sales estimates are widely used in private and public sector institutions, particularly by the Bank of England and Her Majesty’s Treasury, to assist in informed decision and policy making. Further information on estimated prices and the value of retail sales by commodity are published along side the RSI. Also published is an experimental Internet estimate, which extracts the proportion of retail sales made over the Internet. There are plans in place to review this experimental index and assess it for designation as a National Statistic status.
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2. Defining retail trade The industries included in the Retail Sales Inquiry are as defined by the UK Standard Industrial Classification (SIC) 2007 1 . Retail sales statistics published in the Retail Sales Statistical Bulletin 2 are presented for all retailing including and excluding automotive fuel and in four retail sector groupings: predominantly food non-food non-store retailing automotive fuel The non-food sector is further broken down to provide statistics on: non-specialised stores or department stores textiles, clothing and footwear household goods stores other specialised stores At this level, statistics on volume and value of retail sales, seasonally adjusted, are published. Retail sales statistics published in the Retail Sales tables
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This note was uploaded on 02/08/2012 for the course FIN FIN4345 taught by Professor Koij during the Spring '10 term at FIU.

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128-rsi-quick-guide - A Quick Guide to the Retail Sales...

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