GDPNow: 1.6752 % as of 07-01-2019

Quarterly , seasonally adjusted annually . GDPNow is a nowcasting model for gross domestic product (GDP) growth that synthesizes the bridge equation approach relating GDP subcomponents to monthly source data with factor model and Bayesian vector autoregression approaches. The GDPNow model forecasts GDP growth by aggregating 13 subcomponents that make up GDP with the chain-weighting methodology used by the US Bureau of Economic Analysis. The Federal Reserve Bank of Atlanta’s GDPNow release complements the quarterly GDP release from the Bureau of Economic Analysis (BEA). The Atlanta Fed recalculates and updates their GDPNow forecasts (called “nowcasts”) throughout the quarter as new data are released, up until the BEA releases its “advance estimate” of GDP for that quarter. The St. Louis Fed constructs a quarterly time series for this dataset, in which both historical and current observations values are combined. In general, the most-current observation is revised multiple times throughout the quarter. The final forecasted value (before the BEA’s release of the advance estimate of GDP) is the static, historical value for that quarter. For futher information visit the source at https://www.frbatlanta.org/cqer/research/gdpnow.aspx?panel=1.

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Category, Region, Data Source: https://www.frbatlanta.org/cqer/research/gdpnow.aspx?panel=1

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Stats

Last Value 1.6752 %
Latest Period 2019-07-01
Last Updated 2019-10-28 14:01:01-05
Frequency q
Average Growth Rate 272.96
Long Term Average 2.13
Value from 1 Year Ago 3.5537
Change from 1 Year Ago -52.86
Unit %
Adjustment %

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