SYNTEC index – Retroactive change and application frozen until January 2021

RETROACTIVE INDEX MODIFICATIONS FROM MARCH TO AUGUST 2020

As an exceptional measure justified by the impact of the health crisis, the Syntec Index Committee has decided to revert to the previously published indices for the months marked by the Covid crisis, namely: March, April, May, June, July and August 2020.

For all these months, the Syntec index is now down to 274.7. This figure corresponds to the last value of the Syntec index unaffected by the crisis, i.e. February 2020.

The decision to freeze the index at this figure corresponds to the implementation of the “carry forward” mechanism described in the Syntec index guidelines applicable in the event of incomplete or erroneous information.

SETTING THE VALUE OF THE SYNTEC INDEX AT FEBRUARY 2020 UNTIL THE END OF THE YEAR

The decision to freeze the index at 274.7 applies until further notice and until publication of the January 2021 index.

A DECISION DUE TO A MISMATCH BETWEEN THE PHENOMENON MEASURED BY THE INDEX AND THE METHODS USED TO CALCULATE IT

To understand the reasons behind this decision, please consult the Syntec Federation press release.

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