The Brave-Butters-Kelley (BBK) Coincident Index was 1.1 standard deviations from trend growth in May 2021, and the BBK Leading Index was –0.7 standard deviations from trend growth. In annualized real gross domestic product (GDP) units, the trend component of BBK Monthly GDP Growth was 2.4% in May and the cycle component was 3.7%. The leading subcomponent contributed –1.4% and the lagging subcomponent contributed 5.1% to the cycle component of BBK Monthly GDP Growth.
Brave-Butters-Kelley Indexes, May 2021
Indexes Point to Continued Above-Trend Growth in May