Flash-Estimates
Based on estimation models, flash-estimates are already available at t+30 for selected short-term business indicators such as the index of persons employed, the index of hours worked and the turnover index for the aggregates total production, industry and construction.
The flash-estimates are based on the one hand on historical developments and the correlation structure of the individual variables, and on the other hand on the responses already available at t+30.
An essential quality aspect for the estimation is the automatic outlier detection and correction. At t+30, about 60 % of all responses have been received, but some of these still have quality deficiencies. The outlier detection is based on a univariate time series model. The sensitivity of this procedure was heuristically calibrated in such a way that not too many correctly reported values were replaced, but on the other hand most of the erroneous reports were eliminated.