Definition: Turning point

OECD - Business tendency surveys

A turning point is an observation in a time series which is a peak or a trough. When several contiguous values are equal, and greater than or less than the neighbouring values, a convention is required in order to determine which is regarded as the turning point, e.g. the middle one may be chosen.
Source:
Organization for Economic Cooperation and Development (OECD), "Business Tendency Surveys - A Handbook", OECD, Paris, 2003
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