This study aims to identify available data sources for the issuance of economic statistics and national accounts estimates in ESCWA member countries, in order to assess the effective implementation of international recommendations and standards in those countries. The study is based on the results of the survey conducted by ESCWA in 2011 to explore the availability of economic statistics in member countries and evaluate the processes adopted to issue basic economic statistics and national accounts in member countries. The study reviews short-term economic indicators, as well as the internationally recommended early warning indicators as a tool to monitor the economic situation, economic cycle and predictions. It also identifies international recommendations and best practices in the preparation and updating of data and recommendations concerning short term economic indicators. It concludes with a set of recommendations in line with the real situation in member countries that can be used for strengthening data sources and developing the process for preparing economic statistics and national accounts.