Monthly GDP rose 0.8% in November, following a 0.3% decline in October that was revised down from a previously reported 0.1% decline. The jump in November reflected sizable gains in both inventory investment and domestic final sales, with little contribution from net exports. Averaged over October and November, monthly GDP was 1.5% above the third-quarter average at an annual rate. Implicit in our latest tracking forecast of 2.4% GDP growth in the fourth quarter is a 0.3% increase in monthly GDP in December. Click here for more information on MA’s Monthly GDP measure.
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. Click here for more information on MA’s Monthly GDP measure.