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 ?
(2) The monthly precipitation wet spells for each year over a 30-year base period provide a time series.
No backup existed, which complicated the evaluation and selection of a base period.
These extremely hot summers have affected an estimated 10 percent of global land area in recent years, compared with less than 1 percent of the Earth's surface during the base period.
Perhaps the taxpayer's trade or business started before 1984 and its research activity records for the base period of 1984-1988 (see Sec.
This single-award task order contract includes a five-year base period and five award-term option years with a potential cumulative value of $500 million.
To be eligible, a Homeland dividend and a qualifying Base Period dividend must be paid before the end of 2005 (for calendar-year taxpayers).
When an unemployed worker files an UI claim, the EDD looks at a "base period," a 12-month history of the worker's employment, to determine which business will pay what percentage of the unemployment insurance.
The contract has a base period of four months, followed by nine option years, with a total potential contract value of $750 million.
The 24-month contract base period is valued at $1.9 million.
The month, year, or series of years from which the index measures changes is called the base period. We always set the index number for the base period at 100 and express values for other time periods as percentages of the base period.
The overall contract, worth up to $25bn, contains a two-year base period and eight one- year options.
Repealed was the provision that employers would not be charged for benefits paid to a claimant who, during the base period, was a student employed on a temporary basis and whose employment began within the period of his or her leaving to return to school; to a claimant who terminated employment to accompany or join a spouse; or to a claimant who left employment to take a better job.