GDP

Economies are large (especially the largest in the world) which makes them difficult to measure.  Any measurements which are conducted are also subject to revisions.  These revisions bring in more complete data, helping to improve the accuracy of the measurement. 

Employment data have been rather consistent during the past year or so and could be setting up the Federal Reserve for a period of difficulty.  Growing payrolls have been the trend every month since December 2020.  The year-over-year statistic has been above zero since April 2021.  Although, it has also been decelerating since then (see the chart above), partly due to the law of

It kind of makes sense that income and spending are linked.  Think of your own household.

As far as economic indicators go, gross domestic product (GDP) from the Bureau of Economic Analysis (BEA) is probably one of the most popular.  Despite the attention this comprehensive look at American output receives, it offers some of the oldest data available in a new release when it is published because it includes information as old as the first month from the previous quarter. 

Output growth in America during the first quarter of 2019 was downwardly revised by the Bureau of Economic Analysis in their second estimate of the period’s Gross Domestic Product.  After more data were collected, output is estimated to have grown 3.1 percent on an annualized basis, down from 3.2 percent in the first iteration.

More data regarding America’s economic output were collected and tallied up by the Bureau of Economic Analysis, providing a fuller look at our nation’s gross domestic product.  Unfortunately, the fuller picture suggests additional slowing took place in the final quarter of last year than first thought.  On a seasonally adjusted, annualized basis, output grew 2.2 percent, r