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Recent studies have shown the advantages of calculating the most recent month's seasonal adjustment by using data up through that month (concurrent adjustment) over the traditional procedure of using projected year-ahead seasonal factors. The trend estimates produced by the X-11 procedure are partially determined by the type of seasonal factors used. Since an underlying motive for performing seasonal adjustment is to obtain an idea of the trend, it is of interest to compare the trend estimates produced using concurrent seasonal factors with those obtained via projected factors. The accuracy of concurrent trend estimates is examined on a set of Census Bureau economic time series using the Census X-11 methodology. Comparisons are noted in terms of month-to-month percentage changes and mean absolute deviations from historical estimates. The results indicate that the concurrent adjustment procedure leads in many cases to an improved trend estimation.
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