December monthly GDP "rose for a seventh month in a row," said professor Evangelos Otto Simos. Visualization of the economywide now-analytics, which appeared in the latest issue of U.S. monthly-GDP Digest™, shows the king of statistics "rose by an annual rate of 0.7% in December, from the previous month, to $18,794 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 (+4.0%) in the three months to December 2020. "In other words, America's economic growth in the fourth quarter of 2020 hit 4.0 percent," Simos, Editor-in-Chief of the Digest, highlighted.
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 12% in December, up from 10.2% in November."
In the inflation front, the price index for monthly-GDP™, officially called the GDP price deflator - seasonally adjusted and set to equal 100 in 2012 - increased by an annual rate of (+4.1%) in December, from the previous month to an index reading of 114.8. In Fed-watch words, using the price index for monthly-GDP™, "…U.S. GDP-based inflation runs at a month-to-month annualized speed (rate) of (+4.1%)," e˗forecasting.com's Fed-watcher noted in the highlights of the Digest.
Today's monthly-GDP™ preliminary estimate is based on more complete source data than were available for the flash estimate, issued at the beginning of this month.
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