Monthly GDP Data Revisions Solidify U.S. Growth

The final monthly estimate of real gross domestic product visualizes that monthly˗GDP™ rose by an annual rate of 5.0% in September, from the previous month, to $18,738 billion.

The final estimate is based on more complete source of monthly data than were available for the preliminary estimate, and end-of-month update of BEA’s quarterly GDP, third quarter of 2020, used to benchmark monthly˗GDP™.  For monthly frequency, the annualized rolling three-month growth rate in monthly˗GDP™, a monthly equivalent to quarterly-data growth rate, posted a reading of (+33.1%) in the three months to September 2020, which is the third quarter’s advanced estimate of GDP.

Based on the latest estimate of monthly GDP, the upshot from the national accounts predictive intelligence model, published today in the U.S. Monthly GDP Digest, envisions “…a probability for the national economy to be in recession at 27.6% in September, down from 89.7% in August…”, said Evangelos Otto Simos, editor-in-chief, of the GDP Digest.

The next U.S. Monthly GDP Digest™, featuring flash estimate of October 2020 monthly GDP, will be released at 12:01 PM Eastern Time (USA & Canada), Friday, November 6, 2020.

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