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SEASONAL COMPONENT OF A TIME SERIES

Statistics Directorate    
Definition:
The seasonal component is that part of the variations in a time series representing intra-year fluctuations that are more or less stable year after year with respect to timing, direction and magnitude.

Context:
The seasonal component is also referred to as the seasonality of a time series.

The seasonal component reflect “normal” variations that recur every year to the same extent, e.g. weather fluctuations that are representative of the season, length of months, Christmas effect.

The seasonal component may also include calendar related systematic effects that are not regular in their annual timing or are caused by variations in the calendar from year to year.

Source Publication:
OECD, 2005, Data and Metadata Reporting and Presentation Handbook, OECD, Paris, Section 4: Guidelines for the reporting of different forms of data.

Statistical Theme: Methodological information (metadata)

Created on Monday, July 11, 2005