Indexes Suggest Growth Remained Above Trend in January
The Brave-Butters-Kelley (BBK) Coincident Index was 0.6 standard deviations from trend growth in January 2022, and the BBK Leading Index was –0.1 standard deviations from trend growth. In annualized real gross domestic product (GDP) units, the trend component of BBK Monthly GDP Growth was 2.5% in January and the cycle component was 2.0%. The leading subcomponent contributed –0.2% and the lagging subcomponent contributed 2.2% to the cycle component of BBK Monthly GDP Growth.