•  Output objective: The Eurosystem statistical function strives to providing euro area statistics that are fit for use in the Eurosystem’s decision-making, given the allocation of responsibilities for European statistics between the ESCB and the European Statistical System (as defined in the Treaty, secondary legislation and the Memorandum of Understanding on economic and financial statistics between the European Commission’s statistical office Eurostat and the ECB).
The Governing Council also requested to thoroughly investigate the feasibility of a move towards the consolidated or pooled collection and production of various types of Eurosystem statistics in a network, starting with new or substantially revised statistics and with due consideration to the fact that different types of statistics may require different approaches.