Abstract
In response to the demand for more timely statistical information, Statistics Canada now publishes advance indicators for several key monthly economic indicators. While the desire for information in near real-time is not new, it has been particularly important recently, especially in light of the global economic crisis in 2008–2009 and the COVID-19 global pandemic beginning in the spring of 2020. Advance indicators for select economic indicators have been published by Statistics Canada since the spring of 2020 and are produced using a technique referred to as flash estimation. This paper provides detail on the development of advance indicators and provides summary information on evaluations carried out to ensure that they are fit-for-purpose as leading economic indicators for several sectors of the Canadian economy.
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