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I read it as #1. Usually when they reference a quarter they mean the change is from the previous quarter.
by DamnYuppie 6y ago
I read it as #1. Usually when they reference a quarter they mean the change is from the previous quarter.
- nabla9 6y agoUnfortunately the correct answer is #3. The US has peculiar way to report quarterly GDP growth rates that is different from what I'm used here in EU. In the US official reports comes from BEA. They use quarter-on-quarter growth rate expressed on an annual basis. Quater-on-quater growth rate QonQ = (Q4-Q3)/Q3 (they use real rate that is inflation adjusted). Then they convert it into annual basis so that reported rate is (1+QonQ)^4 -1 In other words, the GDP grew 7.4% inflation adjusted from the last quarter. https://www.bea.gov/resources/methodologies/measuring-the-economy https://www.bea.gov/resources/methodologies/measuring-the-ec...