Soft landing still on the cards?

in economy •  2 years ago 

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After the latest revisions, GDPplus was 0.8% in Q3 while GDP was 2.9% and GDI was 0.3%.

Notably GDPplus has been positive all year so far. Both GDP and GDI undergo revisions over time in the years ahead, so we won't know the true picture of 2022 for awhile. Something to keep in mind with regards to the negative GDP numbers.

GDPplus was constructed for that reason. It is an alternative GDP measure that tries to account for this GDP measurement error to reflect the actual GDP value.

To put the revisions in perspective, originally the advance estimates for Q4 2008 had GDP at -3.8%. The 2018 revision for Q4 2008 was -8.4%. Now the revisions aren't usually that dramatic, but they can be relatively large.

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