Monthly GDP is recovering.
Figure 1: Non-agricultural employment (NFP) from the CES (bold blue), civilian employment (orange), industrial production (red), personal income excluding current transfers in $ Ch.2017 (bold green), manufacturing and commercial sales in $ Ch.2017 ( black), consumption in $Ch.2017 (light blue) and monthly GDP in $Ch.2017 (pink), GDP (blue bars), all logarithmic normalized to 2021M11=0. Source: BLS via FRED, Federal Reserve, second version of BEA 2024Q1, S&P Global Market Overview (née Macroeconomic Advisors, IHS Markit) (6/1/version 2024) and calculations by the author.
