Definition: Trading day effect

Category: Seasonal adjustment

Recurring day‐of‐week effects and leap year effects in monthly (or quarterly) economic time series are called trading day effects. http://ec.europa.eu/eurostat/ramon/statmanuals/files/UNECE_Seasonal_Adjustment_Demetra.pdf
Source:
United Nations Economic Commission for Europe (UNECE), "Practical Guide to Seasonal Adjustment With Demetra+", Geneva, 2012
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