GDP (3rd), GDO, GDP+ | Ecobrowser
With the GDI message, we no longer have to guess to calculate the GDO. GDP+ is also reported. We have the following picture through Q4.
Picture 1: GDP (black), GDPNow of 3/24 (red square), GDO (yellow), GDP+ (green), all in billions Ch.2012 SAAR$. The GDP+ level is calculated by repeating the actual GDP growth rate for the fourth quarter of 2019. Source: BEA, 3rd edition Q4 2022, Federal Reserve Bank of Atlanta, Philadelphia Fedand the author’s calculations.
It is interesting to compare these results with what we thought. Two months ago; then GDO (net operating component set at Q3 2022) was below GDP. On the other hand, GDP+ is lower than originally thought and GDP+ growth is definitely slowing down.
However, it is interesting that GDP+ has been steadily growing throughout the first half of 2022, indicating that there is no slowdown in activity that would correspond to a recession.