Why Use This Data Source In Your Models?
The producer price index for wood pulp represents the average movement in selling prices from domestic production over time. This indicates supply and demand for wood pulp and its inputs.
PPI: Wood Pulp - Not Seas Adj, Index 2006 = 100
U.S. Bureau of Labor Statistics
Producer Price Index
Index 2006=100, Not Seasonally Adjusted
The data shows seasonality. The data should be adjusted. While the Order Norm transformation, provides the best normality, the Boxcox variable will also perform well.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Data does not show strong auto correlation indicating no need for differencing
The ACF indicates 0 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.14 p-value = 0.06 indicates that the data is stationary.
The Shapiro-Wilk test returned W = 0.94 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 0.33 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.04 with a p-value of 0.08 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
U.S. Bureau of Labor Statistics, Producer Price Index by Commodity for Pulp, Paper, and Allied Products: Wood Pulp [WPU0911], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/WPU0911, November 8, 2019.
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