This monitor is a reflection of how we update our assessments of economic growth in real-time as we get meaningful updates from macroeconomic data releases. It provides a more timely and meaningful gauge of economic activity growth than what GDP and similar summary indicators provide. Please see here for more details about how to interpret this information.

Bottom Line: More of the same themes: the US economy is (1) growing, (2) slowing, and (3) stabilizing. After a hot start to January, real consumption outcomes have normalized. Q1 will still show decent consumption contributions to real GDP growth. The industrial production release today was more choppy but suggests that manufacturing growth may no longer be deteriorating so aggressively.


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