NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
loading...

Seasonal Adjustment of NIPA data

Jonathan H. Wright

NBER Working Paper No. 24895
Issued in August 2018
NBER Program(s):Economic Fluctuations and Growth, Monetary Economics

In the 2018 comprehensive update of the national income and product accounts, the Bureau of Economic Analysis released not seasonally adjusted data, and modified its seasonal adjustment procedures. I find some indication of residual seasonality in the seasonally adjusted data as published before this update. The evidence for residual seasonality is weaker in the seasonally adjusted data after the update. I also directly seasonally adjusted the aggregate not seasonally adjusted data, and this entirely avoids residual seasonality. The average absolute difference between my seasonally adjusted real GDP data and the current official published version is 1.1 percentage points in quarter-over-quarter annualized growth rates.

download in pdf format
   (155 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w24895

 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us