Definition: Reference series

Category: OECD - Business tendency surveys

Cyclical indicator systems are constructed around a reference series. For a system of leading indicators, the reference series is the economic variable whose cyclical movements it is intended to predict. Indices of industrial production and gross domestic product are often used as reference series. http://ec.europa.eu/eurostat/ramon/statmanuals/files/OECD_Business_Tendency_Surveys_Handbook_EN.pdf