July Monthly GDP Rose

July Monthly GDP Rose



America’s real monthly˗GDP™ rose in July, following a revised increase to 3.1 percent in June,” said Professor Evangelos Simos. The flash estimate for July, “combined with June’s revision, clearly show U.S. economic growth has converged to its long-term (60-year) potential of 3%…”, Simos added, presenting highlights from United States Monthly GDP Digest., released today to the public.

America’s real monthly˗GDP™ rose in July, following a revised  increase to 3.1 percent in June,” said Professor Evangelos Simos. The flash estimate for July, “combined with June’s revision, clearly show U.S. economic growth has converged to its long-term (60-year) potential of 3%…”, Simos added, presenting highlights from United States Monthly GDP Digest., released today to the public.

America

For monthly frequency, the annualized rolling three-month growth rate in monthly˗GDP™, a monthly equivalent to quarterly-data growth rate, posted a reading of (+5.6%) in the three months to July 2021 from the previous period, three months to June 2021; It was one percentage point below the reading of this growth analytic in June.

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 (+6.7%) in July, from 12.9% in June. In Fed-watch words, using the price index for monthly-GDP™, “…inflation, for what America produces or America buys, runs at a month-to-month annualized speed (rate) somewhere between (+6.7%) and (+12,9%)…,” depending on how much sophisticated the economists at the Fed are, asserted e˗forecasting.com’s Fed-watcher.

The next issue of U.S. Monthly GDP Digest™, featuring the second (preliminary) estimate for July, will be released at 4:30 PM Eastern Time (USA & Canada), Monday, August 16, 2021. Subscribers receive the Digest and data history, 1959-present, one workday before the press release day.

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