14.1 Trend

Trend captures the general direction of the time series.

• Long-run increase or decrease over time (overall upward or downward movement)
• Data taken over a long period of time
• For example, increasing job growth year over year despite seasonal fluctuations.
• Trend can be increasing, decreasing, or constant.
• It can increase or decrease in different ways (linearly, exponentially, or in other ways)