We get a myriad of statistics, for example national accounts data, that are published rather quickly, with a dedicated effort. However, the short publication deadline means that the data will often have to undergo very extensive revision a few months later. This is especially problematic around a cyclical reversal when even minor revisions may give rise to a very different interpretation.
Over time, the euro area should reap the benefit of the effects of significant policy measures that have been decided upon over recent months to deal with the financial turmoil. They should help to restore trust in the financial system and to ease constraints on credit supply to companies and households.