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 ?
Dr Nerys Llewelyn Jones of JCP Solicitors said: "Our client made significant business decisions during the reference period for expansion with a view to providing additional income for his sons who wanted to take a more active role in the business.
Using information obtained from its membership (Euro-Moulders members have an 80% market share of the sector), the highest and lowest price differences are calculated for each raw material against a reference period.
In the future, the subsidy would be based on the size of the area farmed and on payments made during a historical reference period for each fruit and vegetable product.
In the latest reference period, the working age employment rate was 74.
p Road Transport (Working Time) Regulations From March 23, new regulations will limit working to an average 48-hour week over a four-month reference period.
Robert Sullivan, of Strutt and Parker's Morpeth office, said: "All producers who were affected during the reference period 2000 to 2002 by force majeure ( for example, foot-and- mouth disease in 2001 ( compulsory purchase orders or were entered into agri- environment schemes could qualify under hardship.
9 inches) when averaged over England and Wales - just over twice the average of the 1971-2000 reference period, according to data released by independent meteorologist Philip Eden.
It and the UK government opposed this, noting the pay rise came after the reference period used to calculate maternity pay, (ending 15 weeks before maternity leave).
Many of the songs lovingly reference period classics, from the infectious opening number, "Good Morning, Baltimore" (which echoes the Ronettes' "Be My Baby") to the anthemic finale, "You Can't Stop the Beat" (which pays tribute to Ike and Tina Turner's "River Deep, Mountain High").
In the Current Employment Statistics survey of establishments, the reference period is the pay period including the 12th of the month.
The pay reference period is set at a maximum of one calender month but in many cases will be a week.
An unnamed person from Peter Mandelson's trade and industry department wrote: "The hours of non-hours work worked by a worker in a pay reference period shall be the total of the number of hours spent by him during the pay reference period in carrying out the duties required of him under his contract to do non-hours work.

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