RELEASE: In October, Czech retail sales continued to follow the trend of the preceding months and increased…1.1% on a seasonally adjusted month-to-month basis. On a year-ago basis, retail sales advanced 1.7% (not seasonally adjusted).
DKo: A full-year seasonal adjustment? It must make sense somehow, but it does sound funny. Economists don’t indulge in parenthetical witticisms. Do they?
I suppose we could make a kind of full-year “seasonal adjustment,” if we based it on the Kondratieff “long-business-cycle” (45-60 years, really, look it up), in which case 2004 would indeed feel like a long, pervasive, “seasonal” downturn.