1) Use Case reminder
2) Where we are on our road map.
3) Open Action Items
4) JIRA Issues Review - https://jira.edmcouncil.org/projects/IND/issues/IND-17?filter=allopenissues
5) Todays content discussion.
6) For next week.
Reviewed current state of the IND ontologies with respect to the recently added PCE and needed Housing Starts indicators. Dan provided the following definition of housing start:
– Start of construction occurs when excavation begins for the footings or foundation of a building. All housing units in a multifamily building are defined as being started when this excavation begins. Beginning with data for September 1992, estimates of housing starts include units in structures being totally rebuilt on an existing foundation.
This is available (and more) at https://www.census.gov/construction/nrc/definitions/index.html.
For our next meeting, he will work on the various properties of PCE and housing starts – population to which they apply, and the arguments to the expression used to calculate them. We also need to work on the arguments for InflationRate, which depend on PCE, at least for some calculations.
We also reviewed some of the content in the provisional FIBO IND area - the IndicatorsValues ontology is entirely redundant and should be removed once we resolve any references to it. Similarly for the BasketIndicesPublishers ontology, which includes only one class that is a subclass of the Publisher class in an FND informative ontology, not in the BE released ontology, which is a mistake. The class is not useful, and we should review all subclasses of FinancialInformationPublisher more generally, as most do not add significant value.
For Market Indices, we may need to incorporate NAICS codes for industry sectors, since NAICS is the standard reference that many financial institutions and statistics organizations use for determining market sectors to which certain indices apply. Another potential reference is standard occupational codes, which are available from BLS for the US - see https://data.bls.gov/search/query/results?cx=013738036195919377644%3A6ih0hfrgl50&q=standard+occupational. Dan is interested in having an ontology for these, which we could hook up with FIBO at the top levels.