22.7.2005 Official Journal of the European Union L 191/1 (Acts whose publication is obligatory) REGULATION (EC) No 11582005 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 6 July 2005 amending Council Regulation (EC) No 1165/98 concerning short-term statistics THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Article 285(1) thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Central Bank (%), Acting in accordance with the procedure laid down in Article 251 of the Treaty (3, Whereas: (1) Regulation (EC) No 1165/98 (°) established a common basic framework for the collection, compilation, trans- mission and evaluation of Community business statistics for the purpose of the analysis of the economic cycle. () OJ C 158, 15.6.2004, p. 3. ()  Opinion of the European Parliament of 22 February 2005 (not yet published in the Official Journal). Council Decision of 6 June 2005. () OJL 162, 5.6.1998, p. 1. Regulation as amended by Regulation (EC) No 1882/2003 of the European Parliament and of the Council (O] L 284, 31.10.2003, p. 1). The implementation of Regulation (EC) No 1165/98 effected by Commission Regulations (EC) No 586/ 2001 (%, (EQ) No 588/2001 (), and (EC) No 606/ 2001 (%), concerning respectively the definition of Main Industrial Groupings, the definition of variables and the granting of derogations to Member States, has created a body of practical experience that allows measures for further improvements in short-term statistics to be identified. In its Action Plan on EMU Statistical Requirements and in subsequent progress reports on the implementation of that plan, the Ecofin Council identified additional fundamental aspects for improving the statistics covered by Regulation (EC) No 1165/98. For its monetary policy, the European Central Bank (ECB) needs short-term statistics to be further developed, as is stated in its document ECB Statistical Requirements in the field of General Economic Statistics, and, in particular, it needs timely, reliable and meaningful aggregates for the euro zone. The Statistical Programme Committee, established by Council Decision 89/382EEC, Euratom (’), has identified Principal European Economic Indicators (PEEI) that go beyond the scope of Regulation (EC) No 1165/98. OJ L 86, 27.3.2001, p. 11. OJ L 86, 27.3.2001, p. 18. OJ L 92, 2.4.2001, p. 1. OJ L 181, 28.6.1989, p. 47.