Seasonality in economic time series can 'obscure' movements of other components in a series that are operationally more important for economic and econometric analyses. In practice, one often prefers to work with seasonally adjusted data to assess the current state of the economy and its future course.This paper presents a seasonal adjustment program called CAMPLET, an acronym of its tuning parameters, which consists of a simple adaptive procedure to extract the seasonal and the non-seasonal component from an observed series. Once this process is carried out there will be no need to revise these components at a later stage when new observations become available.The paper describes the main features of CAMPLET. We evaluate the outcomes of CAMPLET and X-13ARIMA-SEATS in a controlled simulation framework using a variety of data generating processes and illustrate CAMPLET and X-13ARIMA-SEATS with three time series: U.S. non-farm payroll employment, operational income of Ahold and real GDP in the Netherlands.

Seasonality in economic time series can 'obscure' movements of other components in a series that are operationally more important for economic and econometric analyses. In practice, one often prefers to work with seasonally adjusted data to assess the current state of the economy and its future course. This paper presents a seasonal adjustment program called CAMPLET, an acronym of its tuning parameters, which consists of a simple adaptive procedure to extract the seasonal and the nonseasonal component from an observed series. Once this process is carried out there will be no need to revise these components at a later stage when new observations become available. The paper describes the main features of CAMPLET. We evaluate the outcomes of CAMPLET and X-13ARIMA-SEATS in a controlled simulation framework using a variety of data generating processes and illustrate CAMPLET and X-13ARIMA-SEATS with three time series: U.S. non-farm payroll employment, operational income of Ahold and real GDP in the Netherlands.

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CIRANO Le CIRANO est un organisme sans but lucratif constitué en vertu de la Loi des compagnies du Québec. Le financement de son infrastructure et de ses activités de recherche provient des cotisations de ses organisations-membres, d'une subvention d'infrastructure du Ministère de l'Économie, de l'Innovation et des Exportations, de même que des subventions et mandats obtenus par ses équipes de recherche. CIRANO is a private non-profit organization incorporated under the Québec Companies Act. Its infrastructure and research activities are funded through fees paid by member organizations, an infrastructure grant from the Ministère de l' l'Économie, de l'Innovation et des Exportations, and grants and research mandates obtained by its research teams.