When you think of a statistical study, what comes to mind? Do you picture a thick report, full of statistical jargon and complicated graphs? Indeed, if you're like most people, you've probably read a media article about a study recently, rather than an actual study. For anyone who isn't an expert, wading into the source material can be a daunting prospect.
You might have noticed that some of StatCan's key economic charts contain new information.
The new line that is appearing in certain charts in The Daily is called the trend-cycle, and it looks like this:
May 29, 2015...$983,636 million...$989,552 million...$999,580 million...$1,000,000 million
In the statistics business, these are known as real-time data.
Often when data are first released for a given reference period, they are based on a preliminary set of information. Then, as new more comprehensive information becomes available, the data for that reference period date are adjusted accordingly.