e-forecasting.com’s US monthly GDP, USmonthlyGDP™, rose in January by an annualized month-to-month growth rate of 3.2% to $18,943 billion of chained 2012 dollars expressed at seasonally adjusted annual rates, following an increase of 5.7% in December.
A popular “one-number” measure of economic performance – used by news media and well understood by the public – refers to the annualized (in sync with annual data) quarterly growth rate in real GDP from the official quarterly data of the national accounts. Its monthly equivalent, the rolling three-month growth rate in USmonthlyGDP™, posted a reading of (+3.9%) in the three months to January 2019 from the previous period, three months to October 2018.
January’s reading of the rolling three-month growth rate…” is 0.6 percent point(s) above the country’s potential 88-year average growth rate of 3.3%,” said Evangelos Otto Simos, editor of the US monthly GDP Digest and professor at the University of New Hampshire.
Monthly GDP at “today’s prices,” which is officially called the market value of United States’ output of goods and services expressed at seasonally adjusted annual rates in current market prices, posted a reading of $21,012 billion. Globally thinking, the size of the American market for doing business is about $21 trillion today.
Lastly, the price index for monthly GDP, officially called the GDP price deflator – seasonally adjusted and set to equal 100 in 2012 – held steady in January from the previous month to a level of 110.9. In other words, using the price index of monthly GDP, “…US GDP-based inflation runs at a month-to-month annualized speed (rate) of what?…zero!..,” Simos emphasized; “… adding “Are the FED economists back from Davos? ”
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