S&P Global (formerly Macroeconomic Advisors) released its monthly GDP for January today, showing a rebound in economic activity – up 0.3% month-on-month. Adding this to the key metrics chart after NBER BCDC yields the following:
figure 1: Nonfarm payrolls, NFP (dark blue), Bloomberg 3/1 consensus (blue+), civilian employment (orange), industrial production (red), personal income excluding 2012 China transfers (green), manufacturing and Trade Sales Ch.2012 USD (black), Ch.2012 USD Consumption (light blue) and Ch.2012 USD Monthly GDP (pink), GDP (blue bars), all log normalized to 2021M11=0. Q3 Source: US Bureau of Labor Statistics, Federal Reserve, BEA 2022Q4 via FRED 2nd Edition, S&P Global/IHS Markit (nee Macroeconomic Advisers) (published March 1, 2023), and authors’ calculations.
