Definition: Seasonal component

Category: Memobust Glossary

A time series whose values quantify (usually in percents or in the units of data measurement, e.g. dollars) variations in the level of the observed series that recur with the same direction and a similar magnitude at time intervals of length one year. (Length is measured in the calendar units of the observed series--usually quarters or months, sometimes semesters, weeks, or other units.) https://ec.europa.eu/eurostat/cros/content/memobust-glossary-pdf-file_en