GDPNow

The Bureau of Economic Analysis (bea.gov) is the federal government agency that manages the NIPA (National Income and Product Accounts) for the U.S. Just recently we saw the release of first quarter 2018 real GDP growth but these estimates arrive with a considerable delay after the end of a calendar quarter. Often it is useful for individuals to have some advanced predictions about future real GDP. The Atlanta Federal Reserve Bank has a project which generates such predictions, a project called GDPNow. I provide this link here for those interested in a prediction of future real GDP.

It may also be of interest to readers to know that the current forecast for second quarter real GDP growth from this source is now 4.1 percent which, if accurate, suggests that the recent tax reform has indeed had a very substantial impact upon U.S. real economic activity. This should not come as a big surprise since there are other sources of information (such as statements by the Federal Reserve) consistent with the view that the economy is now in a boom.