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.
Organization for Economic Cooperation and Development (OECD), "Business Tendency Surveys - A Handbook", OECD, Paris, 2003

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