U.S. flash estimate of monthly real gross domestic product rose in December by an annualized month-to-month growth rate of 1.7% to $18,923 billion.
For monthly data, the annualized rolling three-month growth rate in monthly˗GDP™, a monthly equivalent to quarterly-data growth rate, posted a reading of (+6.4%) in the three months to December 2020. “In other words, America’s economic growth in the fourth quarter of 2020 hit 6.4 percent,” said Evangelos Otto Simos, editor-in-chief at e˗forecasting.com.
Based on the latest estimate of monthly-GDP™, e-forecasting.com predictive intelligence econometric model, visualizes in real time, the “… probability for the national economy to be in recession at 5.6% in December, down from 10.2% in November”, Professor Simos added.
Today’s monthly-GDP™ flash estimate is based on sources that provide higher than monthly frequency data; and partially complete, preliminary, and early available monthly data usually subject to revisions. Data are acquired from governmental agencies and private organizations and modeled for national accounts consistency, if they were in raw format.
The next U.S. Monthly GDP Digest™, featuring preliminary monthly vintage of December 2020 data, will be released at 12:01 PM Eastern Time (USA & Canada), Thursday, January 21, 2021.
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