Definition: Revision

Category: Memobust Glossary

This a regular procedure in case of unadjusted (raw) data and seasonally adjusted data. Raw data may be revised due to improved information set (in terms of coverage and/or reliability). Revisions of seasonally adjusted data can also take place because of a better estimate of the seasonal pattern due to new information provided by new components. A revision shows the degree of closeness of an initial estimate to a subsequent or final estimate. https://ec.europa.eu/eurostat/cros/content/memobust-glossary-pdf-file_en