MA’s Monthly GDP Measure Slipped 0.1% in October

Monthly GDP slipped 0.1% in October following a 0.1% increase in September that was revised higher by one-tenth.  The slight decline in October reflected a decline in net exports that was partially offset by modest increases in domestic final sales and nonfarm inventory investment.  The level of GDP in October was only 0.3% above the third-quarter average at an annual rate.  Implicit in our latest tracking forecast of 2.5% GDP growth in the fourth quarter is a solid, 0.7% increase in monthly GDP in November, driven by increases in inventory investment and net exports.


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