The Brave-Butters-Kelley (BBK) Coincident Index was 1.4 standard deviations from trend growth in July 2020, and the BBK Leading Index was 3.5 standard deviations from trend growth. In annualized real gross domestic product (GDP) units, BBK Monthly GDP Growth was 18.2% in July. The trend component contributed 1.4%, the cycle component contributed 5.1%, and the irregular component contributed 11.6%. The leading subcomponent contributed 5.6% and the lagging subcomponent contributed –0.5% to the cycle component of BBK Monthly GDP Growth.