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SPGMI month-to-month GDP m/m progress for December shoots up at an annualized 12.2%, after 9.8% in November.
Determine 1: Nonfarm Payroll employment incorporating preliminary benchmark (daring darkish blue), implied stage utilizing Bloomberg consensus as of two/1 (blue +), civilian employment (orange), industrial manufacturing (crimson), private revenue excluding present transfers in Ch.2017$ (daring inexperienced), manufacturing and commerce gross sales in Ch.2017$ (black), consumption in Ch.2017$ (gentle blue), and month-to-month GDP in Ch.2017$ (pink), GDP, third launch (blue bars), GDPNow for 2024Q1 as of two/1 (lilac field), all log normalized to 2021M11=0. Supply: BLS through FRED, BLS preliminary benchmark, Federal Reserve, BEA 2023Q3 2nd launch incorporating complete revisions, S&P International Market Insights (nee Macroeconomic Advisers, IHS Markit) (2/1/2024 launch), and creator’s calculations.
From SPGMI
Month-to-month GDP rose 1.0% in December following 0.8% progress in November that was revised larger by 0.6 share level. The strong December achieve was principally accounted for by stable progress of non-public consumption expenditures, a big enhance within the tempo of nonfarm inventory-building, and a rise in internet exports.
Ultimate gross sales grew at 7.0% and seven.9% in November and December (m/m AR).
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