Definition: Turning point

Category: OECD - Business tendency surveys

A turning point is an observation in a time series which is a peak or a trough. When several contiguous values are equal, and greater than or less than the neighbouring values, a convention is required in order to determine which is regarded as the turning point, e.g. the middle one may be chosen. http://ec.europa.eu/eurostat/ramon/statmanuals/files/OECD_Business_Tendency_Surveys_Handbook_EN.pdf