Seasonal adjustment and trend-cycle estimation.

The article focuses on the socio-economic time series in the Marketing Retail Trade Surveys (MRTS) in Canada. The socio-economic time series has five major components including trend-cycle, seasonality, and the trading-day effect. It notes that the trend-cycle component reflects the main evolution of the series. The seasonal component constitutes the sub-annual, monthly or quarterly fluctuations while the trading-day component represents when activity varies with the day of the week.