Good news in GDP

The Nominal Gross Domestic Product has  been revised upward in a very promising sign for the US economy.

By , Guest blogger

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    A worker counts U.S. dollar bills at a money changer in Manila in this file photo. The NGDP was higher than expected, which s a grat sign forthe economy.
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For people who view NGDP (Nominal GDP) as important, the latest U.S. GDP report should be seen as very bullish. The headline volume number was upwardly revised from 2.8% to 3%, but the terms of trade adjusted was upwardly adjusted even more, from 2.4% to 2.8% and as domestic price inflation was upwardly adjusted from 0.8% to 1.1%, NGDP was upwardly adjusted from 3.2% to 3.9%.

Almost (yesterday's durable goods numbers were an anomaly) all data suggests that NGDP will increase even faster in the first quarter, reflecting both higher real growth and higher price inflation, driven by the rapid increase in money supply.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. This post originally ran on stefanmikarlsson.blogspot.com.

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