WHAT IF...? REVISIONS TO TREND ESTIMATES
EFFECT OF NEW SEASONALLY ADJUSTED ESTIMATES ON TREND ESTIMATES
SENSITIVITY ANALYSIS
Readers should exercise care when interpreting the trend estimates of recent months because they will be revised when next month’s seasonally adjusted estimates become available. For further information, see paragraphs 29 and 30 in the Explanatory Notes.
The graph below presents the effect of two possible scenarios on the trend estimates:
1 The November 2007 seasonally adjusted estimate of the number of dwelling commitments is higher than the October 2007 seasonally adjusted estimate by 2.3%.
2 The November 2007 seasonally adjusted estimate of the number of dwelling commitments is lower than the October 2007 seasonally adjusted estimate by 2.3%.
The percentage change of 2.3% was chosen because the average absolute percentage change of the seasonally adjusted series, based on the last 10 years of data, has been 2.3%.
Number of Owner Occupied Dwelling Finance Commitments
|  |
| | | What if next month's seasonally adjusted estimate: |
| Trend as published | (1) rises by 2.3% on this month | (2) falls by 2.3% on this month |
| no. | % change | no. | % change | no. | % change |
|
| April 2007 | 65 378 | 0.7 | 65 376 | 0.7 | 65 376 | 0.7 |
| May 2007 | 65 477 | 0.2 | 65 477 | 0.2 | 65 535 | 0.2 |
| June 2007 | 65 184 | -0.4 | 65 177 | -0.5 | 65 279 | -0.4 |
| July 2007 | 64 611 | -0.9 | 64 604 | -0.9 | 64 655 | -1.0 |
| August 2007 | 63 949 | -1.0 | 63 981 | -1.0 | 63 846 | -1.3 |
| September 2007 | 63 311 | -1.0 | 63 485 | -0.8 | 63 041 | -1.3 |
| October 2007 | 62 713 | -0.9 | 63 134 | -0.6 | 62 296 | -1.2 |
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