Some Comments on Seasonal Adjustment

Abstract

This paper discusses the practical usefulness of seasonally adjusted time series data. Aspects of seasonal adjustment are considered, and the relevance of adjusted data for economic modelling is examined. One recommendation which emerges from the discussion is that the adjusted data should be presented together with their estimated standard errors. Another is that it is perhaps better not to seasonally adjust at all.

Keywords: Seasonal adjustment, time series

JEL Classification: C22