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GDP is just one measure of earnings.
Fiugre 1: GDP (daring black), GDPNow as of seven/28 (tan sq.), GDO (teal), GDP+ (pink), ultimate gross sales (chartreuse), all in bn.Ch.2012$ SAAR. GDO assumes internet working surplus drops $100 bn SAAR in Q2. GDP+ stage GDP+ development charges iterated on 2019Q4 GDP. Supply: BEA 2023Q2 advance, Atlanta Fed, Philadelphia Fed (7/28), and writer’s calculations.
GDI shouldn’t be accessible for 2023Q2, however all however one main part of GDI (internet revenue) is reported. Assuming internet revenue falls by $100 billion (SAAR) in Q2, I estimate Q2 GDO in Determine 1.
Whereas 2022Q4-23Q1 noticed GDO and GDP+ decline, each have elevated in Q2, as have ultimate gross sales.
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