Continued growth (report):
Figure 1: GDP (bold black), May SPF median (light blue), GDPNow of 5/16 (blue square), New York Fed nowcast of 5/10 (green triangle), St. Louis of 5/10 (beige square), all in billions of Ch.2017$, SAAR. Source: Avance BEA 2024T1, Philadelphia FedAtlanta Fed, New York Fed, St. Louis Fed and author’s calculations.
Unlike the trajectories of November 2023 and February 2024, the gap between February 2024 and May 24 is insignificant.
Figure 2: GDP (bold black), May SPF median (light blue), February (beige), November 2023 (light green), all in billions of dollars Ch.2017, SAAR. Source: Avance BEA 2024T1, Philadelphia Fedand the author’s calculations.
