Concepts and definitions
- Adjustment for seasonal variation
Adjustments for seasonal variation mean removal of the effects of seasonal variation from a time series. It is often easier to detect the direction of long (trend) and short-term developments and latest significant deviations (e.g. industrial disputes) from a seasonally adjusted series than from an original series.
- Adjustment for working days
An adjustment for working days takes into account influences arising from the number of working days. This means giving consideration to lengths of months, numbers of weekdays and public holidays. Figures adjusted for working days are published for industries where variation in the number of working days has a significant impact on a time series. Compared to adjustment for trading days, adjustment for working days does not take into account the effect of different days of the week.
- Trend
Trend describes the long-term development in a time series. A trend series has been adjusted for seasonal and random variations, so that the effects of e.g. weather conditions or short-term labour disputes do not show in it. By contrast, permanent changes, such as growth in demand due to changed taxation, will show in a trend. The direction indicated by the end of a trend should be interpreted with caution. The latter part of a trend indicator may change once it has been updated with data for subsequent months.
Official Statistics of Finland (OSF):
Trend Indicator of Output [e-publication].
ISSN=1798-5439. Helsinki: Statistics Finland [referred: 13.2.2012].
Access method: http://www.tilastokeskus.fi/til/ktkk/kas_en.html.
Statistics
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