| Collection of Economic Data to be improved |
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| Written by Elton Callwood | |
| Monday, 18 February 2008 | |
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The data collected will help inform the V.I.s accounting statistics database, which measures the economic performance of various sectors of the Territorys economy. As a first step in this effort, DPU Director Raymond J. Phillips said the Unit will be conducting its first Establishment Survey, which is a sample survey that targets public or private businesses and agencies resident in the territory to secure information relating to their operations, such as income, expenditure, and inventory. The pilot phase of this major project is scheduled to take place between February 26 and March 17 when selected business establishments will be surveyed. DPU will use the pilot phase to identify logistical problems that may occur so those issues can be rectified before commencement of the actual survey, which will begin in April. In addition this phase will identify and address any issues and concerns that business establishments have, collect preliminary data, and test the interview and data collection procedures. Phillips is seeking cooperation from the operators of business establishments who will be invited to participate in the pilot survey. We will keep all information in the strictest confidence as mandated by law. All procedures used will be in strict adherence to the Statistical Act of 2005, as well as regional and international standards, he said. The DPU is responsible for developing and maintaining a comprehensive and accurate statistics and economic database providing information and analysis to guide the socio-economic development planning process and provide statistical and economic analysis of the
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