Monthly US GDP declined 0.8% in November 2021: IHS Markit

The November decline was mainly accounted for by a sharp widening of the goods deficit. There was also a decline in nonfarm inventory investment. Together, these sources of drag more than offset a modest gain in domestic final sales, as per the report.

Implicit in IHS Markit’s latest estimate of 6.7 per cent GDP growth in the fourth quarter is an assumed 0.1 per cent increase in monthly GDP in December.

IHS Markit's index of Monthly US GDP (MGDP) is a monthly indicator of real aggregate output that is conceptually consistent with real Gross Domestic Product (GDP) in the National Income and Product Accounts.

ALCHEMPro News Desk (KD)