# base period

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## Base period

A particular period of time used for comparative purposes when measuring economic data.

## Base Period

The period of time against which an index is measured. For example, suppose the base period is 2001 and the initial value of an index is 100. If the index is 150 in 2009, it means that the value of the index is 50% higher in 2009 than it was in 2001. It is also called the reference period.

## base period

The time or period of time on which an index is based. Usually, the index is established at a value of 10 or 100 in the base year. The consumer price index of 177 in early 2002 indicated that consumer prices were 77% higher than during the base period of 1982-84. The Standard & Poor's 500 Stock Index of 1300 in early March 2002 indicated that, on average, a portfolio of blue chip stocks with a market value of \$10 during the period 1941-43 (the base period) had a market value of \$1,300 in early 2002. The portfolio of stocks making up the S&P 500 underwent substantial changes during the intervening years.

## base period

The point in time that serves as a reference for calculating financial and economic data.The base period value is usually set at 1.0 or 100, called the benchmark, for purposes of comparison,and then all other periods are either greater or less than the benchmark.

References in periodicals archive ?
These inconsistencies become more apparent as the estimates move farther from the base period.
However, as measured using a more appropriate (contemporaneous) base period, the contribution was 10 percent (table 1).
As measured by chained (1992) dollars, consumer spending on services accounted for 35 percent of real GDP growth in 1954-57; as measured using a more appropriate (contemporaneous) base period, the contribution of services was 28 percent.
As measured by chained (1992) dollars, services accounted for 37, percent of real GDP growth in 1997-82; as measured using a more appropriate (contemporaneous) base period, the contribution of services was 28 percent (table 2).
As measured by chained (1992) dollars, agriculture, forestry, and fisheries accounted for 4 percent of real GDP growth in 1977-82; as measured using a more appropriate (contemporaneous) base period, the contribution of this industry was 7 percent.
As a further alternative to the "exclusions" method of the proposed regulations, TEI recommends that taxpayers be given an election to combine the assets and debt of acquired companies -- whether CFCs or members of the affiliated group -- and to recalculate the base period years for tax years including and subsequent to the corporate event.
10) The "base period" years for any current year generally consist of the five immediately preceding tax years, except that a t ransitional rule permits a taxpayer to elect an alternative rolling five-year base period for the first five affected tax years.
We recommend that the Treasury clarify that the taxpayer's actual historical foreign base period and debt-to-asset data will be used without limitation in 1991.

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