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Calendar adjustment refers to the correction for calendar variations. Such calendar adjustments include working day adjustments or the incidence of moving holidays (such as Easter and Chinese New Year).

The terms “calendar adjustment” and “working day adjustment” (also known as “trading day adjustment”) are often used interchangeably. However, the main difference between the two terms is that working day adjustment is merely one type of calendar adjustment.

Another type of calendar adjustment is a “shopping day” adjustment for consumer expenditure or retail trade series. Each variable has its own specific calendar adjustment.

The length of month effect is assigned to the seasonal component because it happens year after year in the same period with the exception of leap year effects.

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