MA’s Monthly GDP Measure Rose 0.5% in March

Monthly GDP rose 0.5% in March, following a flat reading in February that was revised down five-tenths.  The increase in March reflected solid contributions from PCE and net exports that were partially offset by a large subtraction from nonfarm inventory investment.  The level of GDP in March was 1.5% above the first-quarter average at an annual rate, implying decent momentum in GDP heading into the second quarter.  Implicit in our forecast of 3.2% GDP growth in the second quarter are increases in monthly GDP that average 0.2% per month.

 

Click here for more information on MA’s Monthly GDP measure. 

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