Definition: Seasonal component of a time series

OECD - Data and Metadata Reporting

That part of the variations in a time series representing intra-year fluctuations that are more or less stable year after year with respect to timing, direction and magnitude.
Source:
Task force on data and metadata presentation for the OECD Short-term Economic Statistics Working Party (STESWP), Paris, 2004 [quoted in Organisation for Economic Co-operation and Development (OECD), "Data and Metadata Reporting and Presentation Handbook", OECD, Paris, 2007]
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